Morning Report 15 Dec 21: Wall St retreats in response to higher producer inflation

US sharemarkets tumbled on Tuesday as mega cap technology shares moved lower and new inflation data continued to show a sharp rise in prices. Tesla shares sank 0.8% after CEO Elon Musk sold another US$906.5 million in shares. Ford shares dropped 1.9% on news that Toyota will be investing US$35 billion in electronic vehicles by 2030. Adobe (-6.6%), Microsoft (-3.3%) and Apple (-0.8%) shares were all lower. At the close of trade, the Dow Jones index fell by 107 points or 0.3%. The S&P 500 index dipped by 0.8% with the Nasdaq index lower by 176 points or 1.1%.

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