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US stock market closes with a considerable drop

On Friday, major US stock indexes reported a decline amid negative dynamics on the part of technology, consumer goods, and services sectors.

Thus, the Dow Jones Industrial Average lost 0.69%, the S&P 500 declined by 1.30%, and the NASDAQ Composite dropped by 2.18%.

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At the same time, even in the middle of yesterday's trading session, the leading US indices were showing strong growth of more than 1%. The reason for such a spectacular surge was the easing of investors' concerns about the conflict between Russia and Ukraine. Earlier, at the meeting with President of Belarus Alexander Lukashenko, Vladimir Putin announced certain positive developments in the negotiations with Ukraine.

Notably, during the current week, the escalation of the conflict in eastern Europe has stimulated a noticeable decline in world stock markets.

At the end of the trading session on Friday, the highest results among the components of the Dow Jones stock exchange indicator were shown by McDonald's Corporation adding 2.19%, Caterpillar Inc increasing by 1.44%, and The Travelers Companies Inc jumping by 1.07%. Nike Inc lost 2.70%, Apple Inc declined by 2.39%, and JPMorgan Chase & Co plummeted by 2.25%. These companies showed the worst results among the components of the index.

The main gainers among the components of the S&P 500 index on Friday were EPAM Systems Inc surging by 6.03%, LyondellBasell Industries NV increasing by 3.70%, and Deere & Company adding 3.00%. The shares of Etsy Inc lost 11.50%, Generac Holdings Inc declined by 7.11%, and Align Technology Inc lost 6.84%, showing the weakest results.

The growth leaders among NASDAQ Composite components were Terawulf Inc (+49.29%), Guardforce AI Co Ltd adding 45.04%, and Clearside Biomedical Inc gaining 42.59%. The leading outsiders were shares of Orphazyme nosediving by 45.75%, Zhongchao Inc plummeting by 38.24%, and Exela Technologies Inc losing 32.68%.

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On the NYSE, the number of securities that lost in price (2,336) exceeded the number of securities that rose (869). At the same time, the indicators of 117 shares remained unchanged. On the NASDAQ stock exchange, the quotes of 2704 companies declined, 1122 increased and 196 closed unchanged.

The CBOE Volatility Index, which is based on the S&P 500 options trading, rose by 1.72% to 30.75 points.

Meanwhile, the annual inflation rate in the United States soared to 7.9% last month from 7.5% in January, the highest level since the winter of 1982. Stock market participants are eagerly waiting for further decisions from the Fed and other major regulators.


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