Stock market news today: US stocks fall ahead of July CPI report

US stocks fell Wednesday as investors waited for key inflation data to roll out Thursday morning.

Major indexes ended in the red, continuing this week's sell-off and struggling to recover as August proves tough for investors coming off a hot streak earlier this summer. Cleveland Fed economists expect inflation to accelerate 3.4% year-over-year. Both estimates are slightly higher than the inflation figures reported in June, when prices rose 3%.

Investors are hoping that cooler inflation data could influence the Federal Reserve to end its rate hike campaign, which would likely be a boon for stocks.

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