The US stock exchanges closed on Wednesday with no clear direction. The Dow Jones ended the day with a small gain of 0.29 percent at 31,613.02 points. The S&P 500, however, decreased by 0.03 percent to 3,931.33 meters. The Nasdaq technology exchange fell a little more clearly. The Nasdaq Composite lost 0.58 percent to 13,965.49 units.
The stock exchanges continued to be held back by the latest inflation fears. One indicator of this are the rising bond yields, which are seen as a gauge for fears of inflation. The data on producer prices reported on Wednesday were stronger than expected and thus fueled fears. If yields rise with price expectations, bonds become more attractive compared to stocks.
Technology stocks are also likely to have suffered from shifts into the standard values of traditional industries. One background could be that star investor Warren Buffett has shifted a bit of Apple shares into defaults.
Stocks then lost 1.76 percent, setting the tech industry in a negative direction. At the top of the Dow were shares in the telecom provider Verizon with a plus of 5.24 percent and the oil company Chevron with a premium of 3.00 percent. It was previously announced that Buffett's investment vehicle Berkshire Hathaway has recently relied on the two stocks.
Wells Fargo caused a stir with an increase of 5.17 percent. The market said the bank was making progress in talks with the US Federal Reserve about imposed restrictions.
