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The Dow Jones Industrial Average fell on Tuesday on inflation data.
The Dow has fallen 500 points (as of this writing).
Stocks rose on Tuesday as U.S. bond yields surged on better-than-expected inflation data in January and questions about whether the Federal Reserve, a key part of the stock market bull run, can cut interest rates several times this year. It fell in response to the occurrence of
The Dow Jones Industrial Average fell 503 points, or 1.3%. The S&P 500 fell 1.4%, and the Nasdaq Composite fell 1.7%.
The consumer price index in January increased by 0.3% compared to December. CPI increased by 3.1% annually. Economists polled by Dow Jones had expected the CPI to rise 0.2% in January from the previous month and 2.9% from a year earlier.
Core prices, which exclude volatile food and energy components, rose 0.4% from the previous month and 3.9% from the previous year. Core CPI in January was expected to rise by 0.3% and 3.7% from a year ago, respectively.
It is on pace to have the worst loss rate in 2024.
Leading consumer price index indicators show headline and core inflation were both more severe than economists had expected in January, with stocks buoyed by a worsening of previous stock gains in the face of easing inflation and the possibility of interest rate cuts. caused a general decline. This would increase the value of both stocks and bonds.
The Dow Jones Industrial Average fell 540 points, or 1.4%, in the opening hours, on pace for its biggest decline of the year.
The S&P 500 and tech-heavy Nasdaq’s 1.4% and 1.8% declines, respectively, were the indexes’ second worst day in 2024.
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