Prices are rising all over the place as commodities, shipping costs and more related categories become more expensive. The shortages and global supply issues have been lurking in plain sight for months, but these worries are really weighing on stocks Tuesday."Although we are coming off a record earnings season, continued supply chain and labor shortages are adding to potential inflationary pressures," said Ryan Detrick, chief market strategist for LPL Financial.
1 million, the highest number recorded since the government started tracking that metric in December 2000.So investors are worried — and tech stocks were hit hardest by the inflation fears during Tuesday's session. By the time of the closing bell, however, the Nasdaq Composite had recouped some of its losses and closed down only 0.1%.The Dow closed down 1.4%, or 474 points, after tumbling as much as 667 points earlier in the session. The broader S&P 500 finished 0.9% lower.
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