Dow drops over 550 points on persistent asset-inflation concerns

The Dow Jones Industrial Average fell 1.2%, or 557 points, to 46,590 at the close.

The S&P 500 dropped 0.9%, or 61 points, to 6,734, while the Nasdaq Composite rose 0.85%, or 192 points, to 22,708.

In Europe, the Stoxx Europe 600 slipped 0.55% to 571.68, with the technology sector sliding 1.15%.

Germany’s DAX lost 1.2% to 23,590 point, London’s FTSE 100 slid 0.25% to 9,675, and France’s CAC 40 declined 0.65% to 8,119.

In Japan, the Nikkei 225 dropped 0.1% to 50,323, while the broader Topix Index slipped 0.35% to 3,347.

Brent crude for January delivery inched down 0.3%, or $0.19, to $64.20 a barrel.

US WTI crude for December delivery lost 0.3%, or $0.18, to $59.91 a barrel.

Gold futures for December delivery fell 0.5%, or $19.7, to $4,074.5 an ounce.

Investors are awaiting the release of the September nonfarm payrolls report, postponed from last month, on Thursday, one day after the Federal Reserve’s latest meeting minutes are published, as they look for clues on the future path of interest rates.