This is the global markets roundup. Lets have a look at some important updates
• All the major U.S. stock market benchmark indexes plunged on Wednesday, May 12, as the consumer price index in April saw the highest growth in 13 years.
• The higher inflation data has sparked concerns among the investors over the possibility of the Federal Reserve raising the interest rate sooner.
• The Dow Jones Industrial Average lost 681 points on Wednesday while S&P 500 lost 89 points and tech-savvy NASDAQ Composite lost 356 points.
• Except in the energy sector, shares in all the other sectors declined on Dow Jones and S&P 500. Consumer cyclical and technology stocks dropped the most in percentage.
• The S&P 500 fell 2.14 percent to 4,063.04 and Dow Jones declined 1.99 percent to 33,587.66. NASDAQ Composite Index was tumbled 2.67 percent to 13,031.68. The small-cap Russell 2000 was down 3.26 percent to 2,135.14.
• U.S. government’s budget deficit in April declined 69 percent year over year to US$226 billion, according to the latest data from the U.S. Department of the Treasury. However, the deficit from October to April period climbed 30 percent to US$1,932 billion.