Stock market today: Stocks sink as hot inflation torpedoes rate-cut hopes

US stocks stumbled on Wednesday after a key inflation report showed an unexpected uptick in consumer prices last month. The Dow Jones Industrial Average fell over 1.4%, or more than 500 points, while the S&P 500 dropped about 1.3%. The tech-heavy Nasdaq Composite was down about 1.2%. Meanwhile, bond yields soared. The 10-year Treasury yield gained as much as 20 basis points on Wednesday afternoon, hitting nearly 4.57%, its highest level since November 2023. The Consumer Price Index rose 0.

According to the CME FedWatch tool, around 80% of bets are now on the Fed holding steady at current rate levels in June. More than half of investors also expect the central bank to leave the rate unchanged through its July meeting. Still on deck Wednesday are the minutes from the Fed's meeting in March, likely to be highly scrutinized for any hints of crumbling in policymakers' expectations for rate cuts.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
La source: globebusiness - 🏆 31. / 66 Lire la suite »

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
La source: globebusiness - 🏆 31. / 66 Lire la suite »

Stock market today: Stocks slip to start final week of eventful first quarterA furious rally on Wall Street to start 2024 took a breather at the beginning of the final week of the year's first quarter.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Stock market today: US stocks mixed as Nasdaq flips into positive territoryThe prospect of a reversal from interest-rate hikes continues to buoy investors' spirits.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »