US stocks retreated from highs amid accelerating inflation and escalating war
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On Thursday, major U.S. stock indices opened lower, retreating from the record highs reached the previous day at the close. Market participants are reacting to a new escalation of the conflict in the Middle East: the U.S. and Iran have announced mutual strikes, which has undermined investor confidence in the peace agreement, which many consider a key factor in reducing global inflation risks, writes Reuters.
Against this background, the S&P 500 index fell by 0.15%, while the Nasdaq Composite slipped by 0.27%. The Dow Jones Industrial Average fell by 0.4%.
Investors are also assessing fresh macroeconomic data as April's US Personal Consumption Expenditures (PCE) index showed a seasonally adjusted 0.4% month-on-month increase, with the annualized figure rising 3.8%, the fastest pace since Ma 2023, which was nevertheless slightly below economists' expectations.
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