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U.S. equities concluded the trading day with declines on Wednesday, following a report indicating a surge in credit card borrowing among Americans during the last quarter. The market also braced for the upcoming U.S. Consumer Price Index (CPI) inflation data, which holds the potential to influence decisions regarding interest rates by the Federal Reserve.
Anticipation surrounded the July CPI figures set for release on Thursday, expected to show a slight uptick compared to the previous year. On a month-to-month basis, consumer prices were projected to rise by 0.2%, mirroring the increase seen in June.
In terms of market performance, the Dow Jones Industrial Average experienced a decline of 191.13 points, equivalent to 0.54%, reaching a closing value of 35,123.36. Similarly, the S&P 500 registered a loss of 31.67 points or 0.70%, closing at 4,467.71. The Nasdaq Composite index saw a decrease of 165.93 points, approximately 1.2%, concluding the trading session at 13,718.40. – Reuters
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