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Major Indexes Close In The Red, Dow Falls Below 40,000 As Investors Make U-Turn On Economic Outlook

Benzinga ·  May 17 04:49

Major U.S. equity indexes ended Thursday's session on a weaker note as investors reconsidered the economic outlook in light of the latest batch of contrasting data.

Both the S&P 500 and the Nasdaq 100 fell by 0.2%, closing at 5,297 points and 18,557 points, respectively.

The Dow Jones Industrial Average, which surpassed the 40,000 mark during morning trading, closed 0.1% lower at 39,869.

Thursday's economic data revealed a decline in initial jobless claims and higher-than-expected import and export prices, with the latter reigniting some anxiety about inflation. Housing starts and building permits were disappointing, and industrial production stalled.

Federal Reserve Bank of...

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