[Breaking] New York Stock Market Closes Lower Amid Inflation Concerns... Nasdaq Down 1.78%

[Asia Economy New York=Special Correspondent Joselgina] Major indices of the U.S. New York stock market closed lower on the 16th (local time) as concerns over entrenched high inflation grew due to the Producer Price Index (PPI) exceeding expectations.

On that day in the New York stock market, the Dow Jones Industrial Average fell 1.26% compared to the previous session. The S&P 500, centered on large-cap stocks, dropped 1.38%, and the Nasdaq, focused on tech stocks, closed down 1.78%.