US stocks edge lower; investors eye Musk, Twitter drama

US stock market notches biggest gain in 8 months
Posted at 4:11 PM, Apr 14, 2022
and last updated 2022-04-14 16:11:36-04

NEW YORK (AP) — Stocks fell on Wall Street Thursday as investors reviewed the latest economic data and corporate earnings amid lingering concerns about inflation and rising interest rates.

The S&P 500 fell 1%, the Dow Jones Industrial Average fell 0.1%, and the Nasdaq fell 1.9%.

Investors again turned their attention to the drama surrounding Tesla founder and CEO Elon Musk and Twitter.

Musk offered to buy the social media company for $54.20 a share, two weeks after revealing he’d accumulated a 9% stake.

The Commerce Department said retail sales rose 0.5% in March, as consumers continue to spend despite high inflation.