Shortly after the start, the Dow Jones Industrial Average fell minus 0.1 percent to 36,277 points. The broader S&P 500 was down 0.4 percent at 4,664 points, while the technical benchmark Nasdaq was down 0.8 percent at 15,764 points.
Inflation in the United States rose to 6.2 percent year-on-year in October, stronger than economists expected. This is the highest inflation since 1990. In addition, weekly unemployment claims in the United States were reported to be slightly lower. Since Thursday is Veterans Day, those numbers were released on Wednesday.
DoorDash is up more than 10 percent. Vault’s acquisition covers about 7 billion euros. This is DoorDash’s largest acquisition to date and the first acquisition in Europe. The company released much better quarterly results than expected. Food distributors were also better last year due to multiple home deliveries due to corona infection.
Alphabet, the parent company of Google, lost 1.3 percent. Google is not insured by the ஆணைய 2.4 billion fine imposed by the European Commission on the technology company. The Commission has rightly punished Google for abusing its market power, the European Court of Justice has found. The commission imposed the fine in 2017.
Coinbase, the cryptocurrency trading platform, had a significant decline, falling nearly 9 percent. Coinbase released disappointing figures for the last quarter. Fast food chain Wendy also opened books about the past. Those results weren’t good either, as Wendy’s price dropped by more than 7 percent.
Electric automaker Rivian also made its debut on Wall Street on Wednesday. The company will raise $ 11.9 billion in the IPO, which will be the largest in New York this year. The shares were sold at $ 78 each. The total market value of Rivian is over $ 76 billion. Rivian is considered a potential contender for Tesla.
The euro was valued at $ 1.1573, up from $ 1.1585 a day earlier. U.S. oil prices rose 0.1 percent to $ 84.21 a barrel. Brent oil rose 0.3 percent to $ 85.00 a barrel.
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