Economy

Dow edges to record but tech selloff hits Nasdaq

Dow edges to record but tech selloff hits Nasdaq”

US equity indexes finished the day mixed, with the Dow Jones Industrial Average closing at a record, while the S&P 500 and the Nasdaq Composite slipped to lower levels.

Europe's markets traded flat to lower ahead of a monetary policy announcement from the Bank of England.

The S&P 500 is up 34.19 points, or 1.4 percent.

The Consumer Price Index, which tracks the cost of household goods and services, jumped 0.4 per cent in August, its biggest increase since January and a tenth of a point higher than the consensus forecast. The Dow Jones industrials are up 1.7%, and less than 1% from new high ground.

The Dow Jones was nearly unchanged, up by just 0.06% at 22,172, while the wider S&P 500 index fell 0.14% to 2,494.

The Russell 2000 index of smaller-company stocks sank 1.87 points, or 0.1 percent, to 1,425.02.

The consumer price index's (CPI) 0.4-percent gain last month was its biggest in seven months and is the last major economic data to be released ahead of the Federal Reserve's September 19-20 policy meeting.

The S&P 500 is up 256.79 points, or 11.5 percent.

Credit bureau Equifax slumped another 2.4 per cent as the Federal Trade Commission said it has begun an investigation into a data breach that may have leaked sensitive information on 143 million people.

Advancing issues outnumbered declining ones on the NYSE by a 1.06-to-1 ratio; on Nasdaq, a 1.16-to-1 ratio favored decliners.



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