The New York Stock Exchange closed the session in negative territory on Tuesday, September 8. The Dow Jones index led the losses among the major US indices, in a session marked by concerns about inflationary pressures arising from the escalation of oil prices.
The S&P 500 closed with a decline of 0.58%, at 7,673.52 points, while the Dow Jones recorded a drop of 1.18%, at 52,786.07 points. The tech-heavy Nasdaq fell 0.32%, to 26,421.41 points. The poor performance was due to oil price behavior and the sharp appreciation of the Japanese yen against the dollar.
Investors have shown caution in a week when inflation data in the United States is expected, to be released on Friday. Despite the widespread declines, the chip company Qualcomm managed to gain 3.17% on the stock exchange, after announcing a partnership with Amazon Web Services for data center infrastructure.
Geopolitical tension has contributed to market instability. The United States stated it had attacked Iranian ships near Kharg Island and the Iranian city of Jask. In parallel, Houthi rebels from Yemen attacked oil facilities and public services in Saudi Arabia, factors that have driven oil prices higher.
