Dow Falls Over 1%; US Inflation Rate Accelerates In March

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 1% on Wednesday.

Following the market opening Wednesday, the Dow traded down 1.21% to 38,414.32 while the NASDAQ fell 0.98% to 16,147.16. The S&P 500 also fell, dropping, 0.99% to 5,158.18.

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Leading and Lagging Sectors

Energy shares rose by 0.1% on Wednesday.

In trading on Wednesday, real estate shares fell by 3.4%.

Top Headline

U.S. annual inflation rate rose for a second consecutive month to 3.5% in March from 3.2% in February.

Equities Trading UP

Marin Software Incorporated MRIN shares shot up 132% to $0.6669 after the company announced upgrades to its integration with Microsoft Advertising.

Shares of Adial Pharmaceuticals, Inc. ADIL got a boost, surging 84% to $2.0840 after the company announced the publication of a peer-reviewed article highlighting the clinical results, strong safety profile, and high compliance among patients administered AD04.

Meiwu Technology Company Limited WNW shares were also up, gaining 43% to $1.44.

Equities Trading DOWN

VIA optronics AG VIAO shares dropped 59% to $0.3661. VIA optronics and Antolin unveiled Sunrise, a new horizon of integration in vehicle cockpits.

Shares of Ascent Solar Technologies, Inc. ASTI were down 50% to $0.1374 after the company announced pricing of a $6 million public offering of shares at $0.14 per share.

Velo3D, Inc. VLD was down, falling 41% to $0.2750 after the company announced pricing of a $12 million public offering.

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Commodities

In commodity news, oil traded up 0.1% to $85.27 while gold traded down 0.4% at $2,353.50.

Silver traded up 0.3% to $28.065 on Wednesday, while copper fell 0.4% to $4.2680.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index fell 0.8% The German DAX fell 0.1% French CAC 40 fell 0.5% while Italy’s FTSE MIB Index fell 0.1%.

The value of retail sales in Italy rose by 0.1% from the prior month in February.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 falling 0.48%, Hong Kong’s Hang Seng Index gaining 1.85%, China’s Shanghai Composite falling 0.70% and India’s S&P BSE Sensex gaining 0.47%.

Producer prices in Japan rose by 0.8% year-over-year in March, while value of loans rose 3.2% year-over-year in March. Chinese vehicle sales climbed by 9.9% year-over-year to 2.69 million units in March compared to a 19.9% decline in the previous month.

Economics

U.S. mortgage applications rose 0.1% on the week ending April 5, 2024.

U.S. annual inflation rate rose for a second consecutive month to 3.5% in March from 3.2% in February.

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