WEB Stock Markets Mixed as Inflation Weighs
Sands China, Galaxy Entertainment Lead Hong Kong Market Losses
CNBC Dow Falls 475 Points, S&P 500 Posts Worst Day Since January
Hong Kong's stock market closed mixed on Monday, with WEB Casino group Sands China and Galaxy Entertainment leading the downside. Sands China shares fell by around 46%, while Galaxy Entertainment dropped by approximately 28%.
The losses came amid a broader sell-off in global stock markets, as investors reacted to the latest inflation data. The U.S. Consumer Price Index (CPI) rose by 8.6% in May, the highest annual increase since December 1981. This has raised concerns that the Federal Reserve will need to raise interest rates more aggressively, which could slow economic growth.
The Dow Jones Industrial Average fell by 475 points, or 1.6%, on Monday. The S&P 500 index dropped by 2.9%, its worst day since January.
In Asia, the Nikkei 225 index in Japan fell by 2.6%, while the Shanghai Composite index in China closed down by 1.1%. European stock markets also opened lower on Monday.
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