Wall Street: US stock markets continue to make losses

new York The slowing effect of rising inflation on the US economy continues to concern investors on Wall Street. The stock exchanges closed on Thursday after an inconsistent course of trading with price reductions. The Dow Jones index of standard values ​​went down 0.8 percent to 31,253 points from trading. The tech-heavy Nasdaq fell 0.3 percent to 11,388 points. The broad S&P 500 lost 0.6 percent to 3900 points.

According to stockbrokers, declining profits from retail giants such as Target made it clear how the surge in inflation is affecting the purchasing power of Americans. “The consumer component is now beginning to weaken, which increases the prospect that we are indeed heading for a recession,” said Randy Frederick, investment specialist at Charles Schwab. Consumption is the main driver, with consumer spending accounting for more than two-thirds of economic activity.