Dow Jones closed 500.10 points due to inflation concerns and economic recession

On October 3, 65, reporters reported that the Dow Jones Industrial Average closed lower on Friday (September 30) under pressure after the United States released higher than expected inflation data. This will be a factor that supports the Federal Reserve (Fed) to raise interest rates again. And it makes investors worry that the economy will face a recession.

The Dow Jones Industrial Average closed at 28,725.51, down 500.10, or -1.71%, the S&P500 closed at 3,585.62, down 54.85, or -1.51%, and the Nasdaq closed at 10,575.62, down 161,85.