Wall Street ended lower as crude prices surged toward 100 US dollars per barrel

Wall Street ended lower yesterday as crude prices surged toward 100 US dollars per barrel, which intensified inflation concerns and drove investors away from equity markets. Among the major indices, the Nasdaq Composite Index tumbled nearly 1.8 per cent, the Dow Jones Industrial Average slipped almost 1.6 per cent, and the S&P 500 lost more than one and a half per cent.