Wall Street declines ahead of inflation data

2024-02-27 18:19PM UTC

US stock indices declined on Tuesday ahead of crucial US inflation data this week, important for gauging the likely path ahead for Fed’s policies. 


Recent government data showed US durable goods orders fell by 6.1% in January, while housing prices rose for the 11th month in a row.


Later this week, important US personal consumption data will be released, considered the Fed’s favorite measure of inflation. 


On trading, Dow Jones fell 0.4%, or 160 points as of 17:59 GMT to 38,909, while S&P 500 fell 0.1%, or 5 points to 5,064, as NASDAQ stabilized at 15,977. 

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