The Dow Jones Industrial Average on Wednesday ended at an all-time high and the Nasdaq Composite posted its longest losing streak since mid October, amid concerns about rising inflation and the eventual pull back of flush monetary policy as the economy reopens in the wake of the pandemic. The Dow [: DJIA] closed up nearly 100 points, or 0.3%, to 34,230, about 30 points above its most recent record on April 16, FactSet data show. The S&P 500 index finished up 0.1% at 4,168, while the Nasdaq Composite Index closed down 0.4% to mark a fourth straight decline, representing the longest skid for the benchmark since a five-session period ended Oct. 19. Healthcare stocks finished slightly higher, represented by a 0.2% gain in the SPDR S&P Pharmaceuticals ETF , after the U.S. Trade Representative Katherine Tai said in a tweet that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines to “help end the pandemic,” adding that American officials will “actively participate” in World Trade Organization negotiations to achieve that. In corporate news, Peloton Interactive shares finished down more than 14% after the company said it was recalling 125,000 of its Tread+ treadmills, citing “risk of injury or death.”
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