US STOCKS-Wall Street dips after Zelenskiy and Trump clash

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28/02/2025 19:16

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January PCE price index rises 2.5% YoY

Indexes up: S&P 500 -0.07%, Nasdaq -0.22%, Dow -0.01%

Updates with afternoon trading

By Johann M Cherian and Sukriti Gupta

Feb 28 (Reuters) -
The S&P 500 dipped slightly in choppy trading on Friday after a meeting between the U.S. President Donald Trump and Ukrainian counterpart Volodymyr Zelenskiy ended in disaster.

Zelenskiy and Trump traded
verbal blows
 at the White House before the world's media over Ukraine's war with Russia. This added fresh uncertainty for investors already worried about sticky U.S. inflation and a tepid economy.

The S&P 500 was last down 0.07% at 5,857.40 points.

The Nasdaq declined 0.22% to 18,504.02 points, while the Dow Jones Industrial Average was down 0.01% at 43,236.40 points.

Earlier, a
Commerce Department report showed inflation rose in line with expectations in the previous month. However, consumer spending, which accounts for more than two-thirds of the economy, dropped 0.2% after an upwardly revised 0.8% increase in December.

Rates and inflation https://tmsnrt.rs/3U8HdD2

 (Reporting by Johann M Cherian and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Maju Samuel and David Gregorio)

 ((johann.mcherian@thomsonreuters.com;))