Stocks tumble as hot inflation numbers douse hopes of June interest rate cut

U.S. stocks are sinking Wednesday following new inflation data that showed prices accelerated for a third consecutive month. The hotter-than-expected report further dashed hopes for Fed rate cuts this year amid fears that progress may be stalling in taming elevated price levels.The S&P 500 slumped 1.1% in early trading and is on track for one of its worst days of the year so far. The Dow Jones Industrial Average was down 451 points, or 1.2%, as of 9:35 a.m.

Either interest rates needed to fall or profits for companies needed to rally to make stock prices look more reasonable. The hope on Wall Street is that the resilient U.S. economy could help prop up profits, even if it does diminish hopes for rate cuts. Ian Shepherdson, chief economist with Pantheon Macroeconomics, isn't quite convinced the latest CPI data, while painful, signifies an upward trend, rather than a bumpy road.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Top 10 Stocks to Buy as CPI Inflation Comes Roaring BackStocks Analysis by Investing.com (Jesse Cohen) covering: Gen Digital Inc, State Street Corp, Cleveland-Cliffs Inc, Humana Inc. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Bron: Investingcom - 🏆 450. / 53 Lees verder »

Stocks Week Ahead: Hot CPI Report Could Send 10-Year Yields, US Dollar SurgingMarket Overview Analysis by Michael Kramer covering: EUR/USD, Nasdaq 100, S&P 500, NVIDIA Corporation. Read Michael Kramer's latest article on Investing.com
Bron: Investingcom - 🏆 450. / 53 Lees verder »

Mixed Performance in Asian Stocks as Japanese Markets Rebound, Chinese Stocks FallAsian stocks were a mixed bag on Monday as Japanese markets rebounded from sharp losses seen last week, while Chinese stocks fell amid renewed concerns over the country’s property market.
Bron: Investingcom - 🏆 450. / 53 Lees verder »