Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Wall Street tumbles after inflation data

Economies.com
2022-09-13 14:37PM UTC

US stock indices declined on Tuesday following a spate of disappointing inflation data.

 

US consumer prices rose 8.3% in August, beating estimates of 8.1%, while still below 8.5% in the previous reading.

 

Core prices, excluding food and energy, rose 6.3%, above estimates of 6.1%, and above the previous reading's 5.9% increase.

 

Such data means the Federal Reserve is likely to increase interest rates by 75 basis points at the September meeting to control inflation. 

 

Dow Jones swooned 2.4% as of 14:35 GMT to 31,590, while S&P 500 shed 2.8% to 3,997, as NASDAQ gave up 3.4% to 11,849.

American Markets News

Americas News

Markets

Wall Street loses ground amid mounting tariff war
2025-07-11 15:29PM UTC
U.S. stock indices declined during Friday trading as the global trade war between the United States ...
Americas News

Markets

Wall Street maintains gains, NASDAQ marks another record close
2025-07-09 20:30PM UTC
US stock indices climbed during Wednesday’s session and held onto their gains following the ...
Americas News

Markets

Wall Street gains ground ahead of Fed's minutes
2025-07-09 15:20PM UTC
U.S. stock indexes rose at the start of trading on Wednesday as markets assessed developments in ...