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New York stock market opens with decline after US inflation data

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The New York stock market started the day with a decline after the higher-than-expected April inflation in the USA.

At the opening, the Dow Jones index decreased by 0.12 percent to 32,123.24 points.

The S&P 500 index fell 0.27 percent to 3,990.08 points, and the Nasdaq index fell 0.78 percent to 11,645.57 points.

While the flurry of economic growth and inflationary pressures continued, indices followed a negative course at the opening following the inflation data that exceeded market expectations in the USA.

FED CAN BE MORE AGGRESSIVE

Consumer Price Index (CPI) in the USA increased by 0.3 percent monthly and 8.3 percent annually in April, rising above market expectations.

Analysts, despite the slowdown in April, inflation; He stated that it is unlikely that it will decrease to pre-epidemic levels in the near future, and that the US Federal Reserve (Fed) will remain above the 2 percent target for a long time due to the continuing supply cuts and the continuation of the rise in power and food prices.

Inflation data remained high, fueling concerns that the Fed may have to act more aggressively to rein in price increases.

After the higher-than-expected inflation data, the 10-year bond yield of the USA again went up, reaching over 3 percent.

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