Major stock markets in the United States plunged at the closing session on Friday, ending the week’s trading in the red territory after recording steep losses throughout the session. Inflation in the US has reached a four-decade record-high, while the report on the consumer sentiment index revealed a decrease of 41.3% year-over-year. Meanwhile, the country’s fiscal deficit was reduced to $66 billion in May. The Federal Reserve will unveil its decision on further interest rate hikes in the coming week, with a 75 basis point increase possible. The Dow Jones Industrial Average closed the trading session, sinking 2.73% or 881 points. Dow Inc. pulled the index down nosediving 6.06%. The Nasdaq 100 decreased by 3.56% or 436 points with Docu Sign Inc. as its worst performer losing 24.53%. The S&P 500 plummeted by 2.91% at the closing bell, with Caesars Entertainment tumbling 9.29%.
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