US Stock Market Declines on Higher-Than-Expected Inflation Figures

On Wednesday, the US stock market experienced a significant decline due to higher-than-expected inflation figures. The S&P 500 lost 1%, and the tech-heavy Nasdaq Composite fell by 0.8%. According to the latest data released Wednesday by the Bureau of Labor Statistics, US consumer prices rose 3.5% over the past 12 months, with an increase in the previous month. That's up monumentally from February's 3.2% rate and marks the highest annual gain in the past six months.

And while gas and shelter costs contributed more than half of that monthly increase, prices rose in almost every major category last month, the BLS said. Indeed, it's time for risk markets to face a reality check as the rates markets undergo harsh repricing and hopes for a June rate cut from the Fed have been dashed. A rate cut in June was likely unrealistic from the outset. The US economy has been showing significant underlying strength, leaving little room for further slowdown in price expansion within the services sector. Now that the data has thoroughly shattered policymakers' dovish hopes, market participants are viewing the situation through a much less dovish lens, expecting only 50 basis points of easing for the remainder of 2024. And perhaps even that is a stretch as Fed board members may consider this outlook optimistic in light of the unexpectedly hotter price pressure. The front end took a beating on Wednesda

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock market today: Asia stocks rise with market focus on signs of interest rate cutAsia stocks are mostly higher, with investors mainly focusing on a U.S. inflation report and what it means for interest rate cuts by the Federal Reserve. Oil prices advanced while U.S. futures were mixed. The yen weakened, coming close to a 34-year low.
Herkunft: AP - 🏆 728. / 51 Weiterlesen »

Stock market today: Hong Kong stocks lead Asia market gains while developer Vanke slumpsHong Kong stocks are leading gains in Asian markets while investors evaluate economic data from South Korea and Australia. U.S. futures were lower while oil prices rose. China real estate developer Vanke’s Hong Kong-listed shares slumped 11.4% on Tuesday after the company reported last week of a notable decrease in profit and no dividend payout.
Herkunft: AP - 🏆 728. / 51 Weiterlesen »

Stock market today: Hong Kong stocks lead Asia market gains while developer Vanke slumpsHong Kong stocks are leading gains in Asian markets while investors evaluate economic data from South Korea and Australia.
Herkunft: ksatnews - 🏆 442. / 53 Weiterlesen »

Stock market today: Hong Kong stocks lead Asia market gains while developer Vanke slumpsHong Kong stocks are leading gains in Asian markets while investors evaluate economic data from South Korea and Australia.
Herkunft: wjxt4 - 🏆 246. / 63 Weiterlesen »

Home Price Cuts Slow as Housing Market Takes a TurnHome builders appear to be feeling more confident about the housing market amid mortgage rate declines.
Herkunft: Newsweek - 🏆 468. / 52 Weiterlesen »