VWO - Asia Mixed Europe Market Advances While Gold Retreats From Record Highs - Global Market Update While US Slept | Benzinga
On Wednesday, May 22, U.S. stock markets closed lower as the three major indexes fell following the release of Fed minutes, revealing disappointment with recent inflation data and expectations of prolonged disinflation.
In economic data, U.S. existing home sales declined by 1.9% month-over-month in April, reaching an annualized rate of 4.14 million units, compared to the revised 4.22 million units in the previous month.
The May Federal Open Market Committee minutes revealed a sobering outlook, highlighting prolonged high interest rates due to persistent inflation concerns, doubts about current policy effectiveness, and a willingness to tighten policy further if necessary.
Most S&P 500 sectors closed lower, with utilities, energy, and materials suffering the largest losses, while healthcare and industrial stocks closed higher.
The Dow Jones Industrial Average was down 0.51% and closed at 39,671.04. ...