https://www3.nhk.or.jp/news/html/20220610/k10013665451000.html

NY Dow Jones Industrial Average Drops Over $600 Beware of Prolonged Inflation

The New York Stock Exchange on June 9^th saw a sharp drop in the Dow Jones Industrial Average of more than $600 as sell orders swelled as fear of prolonged inflation increased.

The New York Stock Exchange on June 9^th became more cautious about prolonged inflation before the US consumer price index was released on June 10^th, and sell orders swelled toward the end of the transaction.

As a result, the closing price of the Dow Jones Industrial Average fell sharply to $32,272,79 cents, a decrease of $638,11 cents from the previous day.

The Nasdaq stock index, which has IT-related stocks, also fell sharply by 2.7%.

Market officials said, “in addition to the widespread view that prolonged inflation will accelerate monetary tightening in the United States, the European central bank’s board meeting on June 9^th will raise the policy interest rate to 0.5% next month. Many investors were wary of a slowdown in the economy and placed sell orders, partly because they decided to raise the rate.”

Source: https://www3.nhk.or.jp/news/html/20220610/k10013665451000.html