U.S. stocks traded lower this morning, with the Dow Jones index falling over 350 points on Wednesday.

Following the market opening Thursday, the Dow traded down 0.74% to 50,496.00 while the NASDAQ fell 0.96% to 25,431.83. The S&P 500 also fell, dropping, 0.74% to 7,331.78.

Leading and Lagging Sectors

Energy shares jumped by 1.1% on Wednesday.

In trading on Wednesday, information technology stocks fell by 1.2%.

Top Headline

The annual inflation rate in the U.S. accelerated to 4.2% in May, recording its highest level since April 2023, compared to 3.8% in the previous month, and in line with market estimates.

Equities Trading UP
           

  • VS Media Holdings Ltd (NASDAQ:VSME) shares shot up 461% to $4.62.
  • Shares of Big Tree Cloud Holdings Ltd (NASDAQ:DSY) got a boost, surging 379% to $8.82.
  • Tianci International Inc (NASDAQ:CIIT) shares were also up, gaining 190% to $3.48.

Equities Trading DOWN

  • Youlife Group Inc – ADR (NASDAQ:YOUL) shares dropped 55% to $0.47 after gaining around 206% on Tuesday.
  • Shares of Global Mofy AI Ltd (NASDAQ:GMM) were down 41% to $0.064. Global Mofy AI announced a 1-for-50 reverse stock split, effective June 11.
  • CCSC Technology International Hldngs Ltd (NASDAQ:CCTG) was down, falling 37% to $1.12 after surging 271% on Tuesday.

Commodities

In commodity news, oil traded up 1.3% to $89.36 while gold traded down 2.3% at $4,186.00.

Silver traded down 0.8% to $64.725 on Wednesday, while copper fell 1% to $6.2570.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.2%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 fell 0.2%, Germany's DAX declined 0.7%, while France's CAC 40 fell 0.3%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.89%, Hong Kong's Hang Seng Index declining 0.64%, China's Shanghai Composite dipping 0.42% and India's BSE Sensex rising 0.09%.

Economics

  • U.S. mortgage applications rose by 10.8% during the first week of June, following a 2.5% decline in the prior period.
  • The annual inflation rate in the U.S. accelerated to 4.2% in May, recording its highest level since April 2023, compared to 3.8% in the previous month, and in line with market estimates.

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