Stocks retreat from highs

Wall Street ended lower on Wednesday, spooked by worries that the Delta coronavirus variant could blunt the economy’s recovery and on uncertainty about when the Federal Reserve may pull back its accommodative policies. Apple and Facebook fell about 1% after helping push the Nasdaq to record highs in the previous session. The dips in those two Silicon Valley giants contributed more than any other companies to the S&P 500’s decline for the session. The Dow Jones Industrial Average fell 0.2% to end at 35,031.07 points, while the S&P 500 lost 0.13% to 4,514.07. The Nasdaq Composite dropped 0.57% to 15,286.64.

European stocks fell on Wednesday as worries about slowing global growth weighed on sentiment, while investors looked ahead to a European Central Bank meeting for hints on tapering plans. The Europe-focussed STOXX 600 index fell 1% by 0712 GMT – on course for its biggest daily decline in three weeks – after losses overnight on Wall Street’s benchmark S&P 500 and Asian stocks. Swedish investment company EQT fell 5.9% after a share placing deal, while Stellantis dropped 2.5% after Dongfeng Motor Hong Kong said it had sold shares in the carmaker for about 600 million euros.

Maltese markets remained closed as the nation celebrated its Victory Day public holiday.

Source: Reuters

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