Wall Street Stock Prices Fall As Earning Season Begins

 

U.S. stocks declined on Monday as Wall Street prepared for significant companies’ upcoming earnings reports, which might reveal how inflation affects firms.

The decline in the Dow Jones Industrial Average was 140 points or 0.45%. The Nasdaq Composite plummeted 2.3 percent, while the S&P 500 slid 1.1 percent.

Lower prices on Monday result from deteriorating Covid trends in China, where Shanghai has identified its first case of the BA.5 subvariant and Macau has shut down its casinos for a week. On the announcement, stocks of casinos and hotels dropped. Each of Wynn Resorts and Las Vegas Sands had an 8% loss.
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