Xinhua
27 Feb 2021, 08:44 GMT+10
NEW YORK, Feb. 26 (Xinhua) -- U.S. stocks ended mixed on Friday, following a steep sell-off in the previous session.
The Dow Jones Industrial Average dropped 469.64 points, or 1.50 percent, to 30,932.37. The S&P 500 fell 18.19 points, or 0.48 percent, to 3,811.15. The Nasdaq Composite Index rose 72.91 points, or 0.56 percent, to 13,192.34.
Eight of the 11 primary S&P 500 sectors finished in red, with energy down 2.3 percent, leading the laggards. Technology rose 0.6 percent, outpacing the rest. The tech group shed 3.5 percent in the prior session.
U.S.-listed Chinese companies traded mostly lower, with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
The moves came after a key measure of inflation showed price pressures were muted.
U.S. personal consumption expenditures (PCE) price index rose 0.3 percent in January and was up 1.5 percent year over year, the Bureau of Economic Analysis reported on Friday.
The so-called PCE price index is the Federal Reserve's closely-watched measure of inflation, and last month's reading was below the Fed's 2-percent target.
Inflation fears have mounted on Wall Street in recent weeks. Tech mega-caps that fueled the market's first bounce from pandemic lows have seen intense selling lately amid inflation worries.
On Thursday, Wall Street's major averages closed sharply lower with the tech-heavy Nasdaq shedding 3.52 percent.
Get a daily dose of Nigeria Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nigeria Sun.
More InformationLONDON, England: Research has shown that COVID-19 infections have dropped some 60 percent in March in Britain, as the nationwide ...
MOSCOW, Russia: - Radio Free Europe has been fined $70,000 by a Russian court.The Russian move was part of a ...
ISTANBUL, Turkey: Turkey has arrested ten former admirals who criticized a government plan to build a canal to the Mediterranean ...
WASHINGTON D.C.: The Biden administration has voiced concern over the slowing pace of senior citizens, aged 65 and older, who ...
ROME, Italy: As Covid-19 rages throughout Europe, Italy recorded 344 coronavirus-related deaths on Saturday and 718 the day before. However, ...
TAIPEI, Taiwan: China has again sent fighter jets into Taiwan's air defense zone, causing Taiwan to launch its own jets ...
Washington [US], April 13 (ANI/Sputnik): US President Joe Biden said on Monday that there is no justification for looting and ...
South Africa's former coach Gordon Igesund reckons the recently-sacked Molefi Ntseki shouldn't have been given the job in the first ...
New Delhi [India], April 12 (ANI): India on Monday reported 1,68,912 new COVID-19 cases, its highest single-day number, and the ...
The announcement of an 8% increase in excise duties - affecting tobacco products - saw the domestic market flooded with ...
JOHANNESBURG - Africa is lagging in vaccinating its people against the COVID-19 disease, and continental heads of state and international ...
Climate change effects such as droughts, flash floods, erratic rainfall, disruption to the monsoon seasons, strong winds, cyclones, sandstorms, dust ...