On Wednesday, American stock indices ended with a decline, market participants were assessing the data on April inflation in the United States and following corporate news.

The Dow Jones Industrial Average fell by 1.02% to 31834.11 points. The leader of the decline among the components of the index were the shares of Apple Inc. which fell in price by 5.9%. Because of this, the electronics manufacturer lost the status of the most expensive company in the world to the Saudi state corporation Saudi Aramco.

Growth among 30 components of the index showed only eight companies. Including the securities of Visa Inc. grew in price by 1.62%, Merck & Co. Inc.- by 1.57%, Dow Inc. – segitude€ary

Standard & Poor’s 500 lost 1.65% and amounted to 3935.18 points.

The Nasdaq Composite index fell 3.18% to 11364.24 points.

The market value of Electronic Arts increased at the end of trading by 8%. One of the leading producers of computer games in the world received in the 4th fiscal quarter net profit and revenue that exceeded market expectations.

U.S. shale producer Occidental Petroleum posted a profitable Q1 FY2022 and revenue growth above market forecasts thanks to higher oil and gas prices. The company’s shares rose 1.2%.

The share price of coffee and candy chain Krispy Kreme Inc. rose 3.8% after the company returned to profitability last quarter and grew revenue stronger than market forecasts.

Coinbase Global shares fell 26% after the operator of the largest U.S. cryptocurrency exchange reported a Q1 loss and a 27% decline in revenue, with results worse than experts’ expectations.

Adjusted profit and revenue of Wendy”s Co., one of the largest fast-food restaurant chains in the U.S., also fell short of market forecasts last quarter. The company’s stock fell 11%.

In addition, several large deals were announced on Wednesday.

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The price of securities of the American manufacturer of electric cars Rivian Automotive Inc. fell by 9.6% after Ford Motor Co. reported the sale of 8 million of its shares.

As reported, U.S. consumer prices (CPI) in April rose 8.3% year-on-year after jumping 8.5% in March, a 40-year record. Analysts surveyed by Bloomberg had on average expected a more significant weakening in the pace of consumer price growth, to 8.1%.

“I think people just don’t know how to price this,” said Randy Frederick, managing director of the Schwab Center for Financial Research. – We know the Fed’s rate hike cycle has begun. That said, it’s hard to think the market has bottomed out yet.”

Meanwhile, global stock markets received some support from news that the coronavirus outbreak in Beijing and Shanghai has abated. Investors are hoping for the easing of restrictive measures in the largest Chinese megacities, which will be a positive factor for the global economy.