Inflation fell - US stock market followed suit

» Updated: July 16 2024

» Published: June 28 2024

Inflation fell - US stock market followed suit
Photo: Pamela Smith/AP/TT

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Wall Street's leading stock exchange index fell on Friday.

The Dow Jones industrial index lost 0.1 percent, the broad S&P 500 index fell 0.4 percent, and the tech-heavy Nasdaq composite index dropped 0.7 percent.

The sour stock market came despite fresh figures showing a decline in American inflation in May, in line with market expectations. The news caused all indexes to rise in early trading – a boost that ultimately fizzled out.

Friday's trading marked the end of the first half of the trading year 2024. A strong half-year, according to the figures. The AI rally has lifted the broad S&P index 14.6 percent over the first six months of the year.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers
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