US stock markets reversed their four day run of positive finishes, with the Nasdaq leading the market down 1.2% on Wednesday.
Among the key drivers was a lack of progress on the ceasefire in Ukraine and a ramping up of hostilities.
The result was an increase in the oil price and both the Dow Jones, down 0.2%, and S&P 500, down 0.6% also falling.
US economic data remains strong with GDP revised down to 6.9% for the quarter and another 455,000 private-sector jobs added in March.
Meme stocks back in the headlines, Lululemon delivers
The meme stock popularity is back with GameStop (NYSE: GME) and AMC (NYSE: AMC) both falling heavily despite a surge in trading volumes once again.
Athleisurewear retailer Lululemon (NASDAQ: LULU) jumped close to 10% after reporting that annual sales had reached US$6 billion for the first time and are expected to grow to US$7.5 billion in 2022. The company reported US$434 million first-quarter profit.
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to buck this negative trend from US stock markets to edge higher this morning. For a round-up of the latest news, check out my ASX 200 morning report.
