US: Dow, S&P 500 fall at opening with inflation data

ANKARA

The Dow Jones and the S&P 500 were lower at the opening bell on Tuesday with high inflation data worrying investors.

The blue-chip Dow fell 131 points to 33,613 with IBM sliding 1.8% for a second day. Goldman Sachs and JPMorgan were down more than 1% each.

The S&P 500 was off 4 points to 4,126 at 9.35 a.m. EDT (1335GMT) despite Tesla soaring 3%.

Nasdaq, on the other hand, was up 110 points to 13,822 as pharmaceuticals Moderna and Novavax jumped 7.2% and 10%, respectively.

Johnson & Johnson fell 2.5% after US health agencies recommended an immediate pause for its single-dose coronavirus vaccine amid reports of clotting issues.

After testing the critical $60,000 level several times since March 13, Bitcoin soared to a new record of $63,057. Major altcoins, like Ethereum, Ripple and Litecoin have also seen new highs.

The American cryptocurrency exchange platform Coinbase will have its initial public offering (IPO) on Wednesday on the New York Stock Exchange.

A successful IPO may increase capitalization in cryptocurrency markets, which is more than $2.1 trillion , and push prices to record levels.

US consumer prices, which rose 2.6% in March on an annual basis, has created perceived risks for investors, despite the Federal Reserve indicating it may run above its 2% target until full economic recovery is reached from the pandemic.