Markets end mixed

Wall Street's main indexes slid on Wednesday with stocks accelerating their declines late in the session, pushing the S&P 500 down about 1.8% from its record closing high after its second straight daily drop. It was the benchmark index's single-day first drop of at least 1% since July 19. Most S&P 500 sectors ended lower, with energy falling 2.4% and healthcare off 1.5%. The Dow Jones Industrial Average fell 382.59 points, or 1.08%, to 34,960.69, the S&P 500 lost 47.81 points, or 1.07%, to 4,400.27 and the Nasdaq Composite dropped 130.27 points, or 0.89%, to 14,525.91.

European stocks meanwhile inched higher after a wobbly start to the week, as investors balanced risks from a spike in global COVID-19 cases with signs of a steady economic recovery in the continent. The pan-European STOXX 600 index rose 0.1% by 0712 GMT, with travel and leisure stocks recovering from sharp falls earlier this week, driven by worries about the fast-spreading Delta variant. UK’s FTSE 100 rose 0.1%, supported by a weaker pound after data showed British inflation fell to the Bank of England’s 2% target last month in an unexpectedly sharp slowdown while the German DAX and France’s CAC 40 were flat.

Maltese markets moved lower with the MSE Equity Total Return Index closing down 0.859 percent to 8,037.029 points. LifeStar Insurance plc led the losses with shares down 7.41 percent at €0.50, followed by Malta International Airport plc which lost 4.76 percent to €6.00. BMIT Technologies plc posted the only gain with shares up 0.41 percent at €0.494.

Source: Reuters, Malta Stock Exchange

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