NEW YORK — Stocks are tumbling and disappointment is shaking markets worldwide Tuesday, following Wall Street’s realization that inflation isn’t slowing as much as hoped.
The Dow Jones Industrial Average lost 603 points, or 1.9%, to 31,777, as of 9:45 a.m. Eastern time, and the Nasdaq composite dropped 3.1%. Markets honed in on a 0.6% rise in such prices during August from July, double what economists expected. Stock markets in Europe, meanwhile, veered from gains to losses. The German DAX was down 1.1%, and the French CAC 40 fell 1%.The Labor Department reported Tuesday that sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, but prices for food surged.
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Our government continues to lie to us daily, and NBC is helping to spread the lies.
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