US stock markets showed declines on Wednesday. At the close in New York, the Dow was calculated at 51,511 points, marking a drop of 0.7 percent compared to the previous trading day. Just minutes before, the broader S&P 500 was down 0.8 percent at around 7,705 points, while the tech-heavy Nasdaq 100 registered a decline of 0.9 percent, standing at approximately 30,470 points.
Market sentiment on Wall Street appeared to be negatively impacted by the rebound in oil prices, which began to climb again after a recent downward trend. Investors are expressing concern that the rising fears of inflation could lead to interest rate hikes.
In commodity markets, the price of gold dropped significantly, trading at $4,284 per fine ounce in the evening, a decrease of 1.8 percent. This equated to a price of 120.97 Euros per gram. Conversely, the oil price increased sharply. A barrel of Brent crude from the North Sea cost $103.40 in the evening around 10 p.m. Central European Time, representing a 4.2 percent increase from the close of the previous session.
Meanwhile, the European common currency weakened on Wednesday evening. The Euro traded at 1.1385 US dollars, meaning the dollar was available for 0.8783 Euros.
