Stocks drop after hot inflation report clouds rate-cut outlook

(Image: WSJ)

Wed, 14 Feb 2024

By Charley GrantA hotter-than-expected inflation report sent stocks tumbling Tuesday and sparked worries about just how soon the US Federal Reserve will start cutting interest rates.The tech-heavy Nasdaq Composite shed 1.8%, while the Dow Jones Industrial Average declined 1.4%, or about 525 points. The benchmark S&P 500 fell 1.4%, pulled lower by all 11 of its sectors. The trading session was the worst for stocks on a release day for the consumer-price index since 2022, according to Dow Jones Market Data.Major indexes have soared in re...

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