New York:Wall Street's major stock indexes closed lower on Wednesday, with the Nasdaq Composite leading the losses, falling 1.85%.
According to Emirates News Agency, the S&P 500 shed 83.96 points, or 1.08%, to close at 7,721.49, while the Nasdaq Composite dropped 502.90 points to 26,701.48. The Dow Jones Industrial Average edged down 45.23 points, or 0.09%, to finish at 51,624.78.
The declines were driven by renewed concerns over inflation and the potential for higher US interest rates, which negatively impacted investor sentiment, particularly towards technology stocks.