Wall Street drops after inflation data

US stock indexes declined during Tuesday’s trading following the release of inflation data, alongside the start of the corporate earnings season.

Data released earlier today showed that the US consumer price index held steady at 2.7% year-on-year in December, while the core index, which excludes food and energy costs, came in below expectations at 2.6%.

Meanwhile, the reporting season for corporate quarterly earnings for the final quarter of 2025 has begun, typically led by banks. JPMorgan Chase reported revenues and profits that exceeded market expectations.

In market trading, the Dow Jones Industrial Average fell by 0.6%, or 316 points, to 49,270 points as of 17:47 GMT. The broader S&P 500 declined by 0.2%, or 16 points, to 6,960 points, while the Nasdaq Composite edged down by less than 0.1%, or 2 points, to 23,731 points.