US stocks tumble on inflation data
US stocks tumbled on Tuesday after fresh data revealed that inflation eased somewhat, but stayed stubborn in January.
US stocks declined in the last trading session of 2021.
The Dow Jones Industrial Average fell 59.78 points, or 0.16 percent, to 36,338.30. The S&P 500 was down 12.55 points, or 0.26 percent, to 4,766.18. The Nasdaq Composite Index dropped 96.59 points, or 0.61 percent, to 15,644.97.
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Six of the 11 primary S&P 500 sectors ended in the green, with consumer staples up 0.71 percent, outpacing the rest. Communication services slipped 1.21 percent, the worst-performing group.
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US-listed Chinese companies traded mostly lower with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note, Xinhua news agency reported.
Despite recent volatilities, all the three US major averages posted double-digit returns this year.
The S&P 500 jumped 26.9 percent in 2021, marking the benchmark’s third straight positive year. The Dow and Nasdaq advanced 18.7 percent and 21.4 percent, respectively, also notching their three-year winning streaks.
(With IANS Inputs)
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