Dow Tumbles Over 800 Points; US Inflation Rate Falls In March

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 800 points on Thursday.

Following the market opening Thursday, the Dow traded down 2.06% to 39,773.54 while the NASDAQ dipped 2.93 % to 16,623.63. The S&P 500 also fell, dropping, 2.51% to 5,320.16.

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Leading and Lagging Sectors

Consumer staples shares surged by 0.9% on Thursday.

In trading on Thursday, energy shares fell by 3.6%.

Top Headline

The annual inflation rate in the US fell for a second straight month to 2.4% in March, recording the lowest level since September, compared to 2.8% in the previous month and versus market estimates of 2.6%.

Equities Trading UP

Sharps Technology, Inc. STSS shares shot up 131% to $0.0325.
Shares of Pasithea Therapeutics Corp. KTTAgot a boost, surging 81% to $1.9783 after a Safety Review Committee recommended escalating to the next dose level of 30mg capsule in its ongoing Phase 1 trial of PAS-004 for advanced cancer.
ReShape Lifesciences Inc. RSLS shares were also up, gaining 63% to $0.5601. ReShape Lifesciences on Wednesday signed an agreement with Haifa, Israel-based Motion Informatics to exclusively import and distribute their neuromuscular rehabilitation devices in the U.S.

Equities Trading DOWN

Marin Software Incorporated MRIN shares dropped 55% to $0.58 after the company announced plans for dissolution, which its board of directors has approved.
Shares of Venus Concept Inc. VERO were down 50% to $4.50 after the company announced a $1.1 million registered direct offering of common stock priced at-the-market under Nasdaq rules.
Damon Inc. DMN was down, falling 45% to $0.0067.

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Commodities

In commodity news, oil traded down 3.3% to $60.28 while gold traded up 2.2% at $3,147.90.

Silver traded up 1.8% to $30.965 on Thursday, while copper rose 4.2% to $4.3675.

Euro zone

European shares were higher today. The eurozone's STOXX 600 climbed 4.9%, Germany's DAX 40 climbed 5.4% and France's CAC 40 jumped 5.2%. Spain's IBEX 35 Index jumped 5.5%, while London's FTSE 100 rose 4.2%.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 jumping 9.13%, China's Shanghai Composite gaining 1.16% and Hong Kong's Gang Seng index rising 2.06%.

Economics

The annual inflation rate in the US fell for a second straight month to 2.4% in March, recording the lowest level since September, compared to 2.8% in the previous month and versus market estimates of 2.6%.
U.S. initial jobless claims increased by 4,000 from the previous week to 223,000 during the first week of April.

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