The US share market finished lacklustre session lower on Tuesday, 12 July 2022, after a late-session dive, as investors prepared for key consumer inflation figures schedule to released on Wednesday that could influence the Federal Reserves path for interest-rate increases. Meanwhile, concerns about the emergence of a new, more infectious Covid-19 strain in several parts of the world also continued to weigh on investors minds. At the close of trade, the Dow Jones Industrial Average index declined 192.51 points, or 0.62%, to 30,981.33. The S&P500 index was down 35.63 points, or 0.92%, to 3,818.80. The tech-heavy Nasdaq Composite Index dropped 107.87 points, or 0.95%, to 11,264.73. All 11 major S&P sectors ended the session lower, with energy (down 2%), information technology (down 1.34%), healthcare (down1.33%), consumer discretionary (down 0.73%), and financial (down 0.65%) issues suffered largest percentage losses. Investors kept close eye for inflation figures that will be released before markets open Wednesday. If the figure is higher, the US Federal Reserve will be forced to make more aggressive moves in its monetary policy that could lower liquidity in markets. The yield on the 10-year US note dropped as much as 12 basis points below the two-year rate amid fears that aggressive rate hikes will sink the economy into a recession. So-called inversions of the curve are a potential harbinger of an economic contraction. Several cities in China have implemented new restrictions to tamp down the spread of the new coronavirus strain, leading to worries about another round of painful lockdowns, especially in Shanghai or Beijing. Covid-19 resurgence and the resumption of Chinese lockdowns could put further pressure on a global economy that is already being squeezed by aggressive monetary policy tightening by the worlds central banks. Among Indian ADR, WNS Holdings fell 1.84% to $74.65, ICICI Bank fell 1.3% to $18.94, HDFC Bank fell 1.06% to $58.67, and Dr Reddys Labs fell 1.33% to $55.47. Tata Motors fell 0.48% to $27.13, Wipro fell 0.6% to $5.12, and INFOSYS fell 1.35% to $18.21. Azure Power Global added 2.16% to $11.37.Powered by Capital Market – Live News
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