Wall Street tumbles, Dow Jones loses over 600 points
Economies.com
2022-06-13 14:12PM UTC
US stock indices tumbled heavily today amid spreading concerns in the markets following inflation data.
US consumer prices surged 8.6% in May, the highest since pace since 1981, beating estimates of 8.3%.
The data bolstered the case for multiple 0.5% rate hikes by the Fed in 2022.
Dow Jones fell 2% as of 14:08 GMT to 30,764, while S&P 500 declined 2.6% to 3,799, as NASDAQ slumped 3.1% to 10,964.
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