The US markets kicked off
May on a weak note, with major indices dropping nearly 1 percent across the
board, as a batch of weaker-than-expected economic data overshadowed the
Federal Reserve’s plan to maintain its stimulus program. The CBOE volatility
index jumped above 14.
The Dow
Jones industrial average lost 138.85 points to close at 14,700.95. The
Standard & Poor’s 500 Index dropped 14.87 points to 1,582.70.
The Nasdaq Composite Index declined 29.66 points to 3,299.13.
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