Markets
Wall Street tumbles after inflation data
2022-09-13 14:48:06 GMT
(Economies.com)
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.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
0.9802
|
0.0147
|
1.5193%
|
|
|
|
|
1.1165
|
0.0345
|
3.1856%
|
|
|
|
|
19.049
|
0.190
|
1.008%
|
|
|
|
|
80.050
|
0.756
|
0.953%
|
|
|
|
|
87.96
|
-0.53
|
0.60%
|
|
|
|
|
1664.495
|
19.135
|
1.163%
|
|
US
Europe
Asia
2022-09-30 14:21:23 GMT
2022-09-29 14:17:15 GMT
2022-09-27 14:24:15 GMT
2022-09-26 13:54:24 GMT