Wall Street Ends Mixed

(MENAFN) US equities finished Tuesday largely in negative territory as traders evaluated stronger-than-anticipated yearly inflation figures alongside climbing crude prices, fueled by renewed anxiety surrounding the US-Iran conflict.

The S&P 500 declined 0.16%, shedding 11.88 points to close at 7,400.96 after pulling back from an all-time peak. Meanwhile, the Nasdaq Composite, heavily influenced by technology shares, dropped 0.71%, or 185.92 points, to 26,088.20 as momentum in semiconductor stocks eased.

Conversely, the Dow Jones Industrial Average advanced 0.11%, gaining 56.09 points to settle at 49,760.56.

The Volatility Index (VIX), commonly known as the market’s “fear index,” decreased by 2.12% to 17.99.

Data released by the Bureau of Labor Statistics showed that the consumer price index increased 0.6% in April, pushing annual inflation to 3.8%. Although the monthly rise aligned with analysts’ projections, the yearly figure surpassed economists’ expectations of 3.7% and represented the steepest level recorded since May 2023.

Worries over inflation intensified further following another notable jump in petroleum prices. West Texas Intermediate crude surged 4.19% to finish at $102.18 per barrel, while Brent crude advanced 3% to trade above $107.

The rise in energy markets followed remarks from President Donald Trump, who dismissed Iran’s newest counteroffer aimed at ending the conflict and characterized the month-old truce between Washington and Tehran as “unbelievably weak” and “on massive life support.”

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