Nasdaq sinks 1.7% as stock market halts multiday streak and Dow wipes out slight advance in Thursday's final minutes

📆 10/12/2021 02:12:00
📰 MarketWatch

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U.S. stocks limped lower on Thursday, and the Dow erased meager gains in the final minutes of trade, ahead of an important read of consumer inflation that could deliver a fresh jolt to financial markets.

Investors have moved from jitters over the impact of the omicron variant of the coronavirus that causes COVID-19 to concerns about super-charged inflation, which could influence the Federal Reserve's plan to tighten monetary policy. The consumer-price index will be released at 8:30 a.m. ET on Friday.

The Dow Jones Industrial Average DJIA, -0.00% was nearly unchanged but in negative territory at around 35,755. The S&P 500 index SPX, -0.72% closed 0.7% lower at about 4,668, while the Nasdaq Composite Index COMP, -1.71% closed down 1.7% to mark the sharpest one-day drop since Dec. 3 when it tumbled 1.9%.

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