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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