U.S. stocks tumbled to a lower close Wednesday after hotter-than-expected inflation data threw cold water on hopes that the Federal Reserve would begin cutting interest rates as early as June.
Minutes from the Fed's March policy meeting reflected concerns that inflation's progress toward that target might have stalled, and restrictive monetary policy may need to be maintained for longer than anticipated. "Anything related to rates has clearly been hit hard today, from real estate to housing to small caps," Detrick said.
Investors will now focus on Thursday's producer prices report for a clearer picture of March inflation, and the unofficial kick-off of first quarter earnings season. On Friday, a trio of big banks — JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. — are slated to post results.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Stocks Fall as Wall Street Awaits Key Inflation DataA recap of Tuesday's key moments in the CNBC Investing Club's Morning Meeting livestream, as U.S. stocks fell ahead of the release of the March consumer price index.
Source: CNBC - 🏆 12. / 72 Read more »
Stock market today: World stocks mostly lower after hot US inflation data foils rate cut hopesShares in Europe and Asia are mostly lower after U.S. stocks fell following another release of hotter than expected inflation data.
Source: ksatnews - 🏆 442. / 53 Read more »
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.
Source: Investingcom - 🏆 450. / 53 Read more »
Asia markets mixed after U.S. stocks jump on inflation dataHong Kong's Hang Seng index flat after gaining over 3% on Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »
European Stocks Rise Ahead of US Inflation DataEuropean stocks were higher Wednesday, as global markets look ahead to the release of U.S. inflation data for March. Economists expect U.S. inflation to have increased 0.3% in March on a month-over-month basis and 3.4% from 12 months earlier. The data will influence the U.S. Federal Reserve's rate policy.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »
European Stocks Set for Upbeat Open as Investors Await US Inflation DataEuropean stocks are expected to open on a positive note as global markets anticipate the release of U.S. inflation data for March. Economists predict a 0.3% increase in inflation on a month-over-month basis and a 3.4% increase from the previous year. The data will have a significant impact on the U.S. Federal Reserve's rate policy. Meanwhile, Asia-Pacific markets experienced declines due to Japan's corporate inflation and rate decisions from New Zealand and Thailand's central banks.
Source: nbcsandiego - 🏆 524. / 51 Read more »