US EditionDow closes 422 points lower after a surprisingly bad inflation report
- The Dow plunged 1.35% to 38,359, far from reaching 40,000 just weeks ago.
- Inflation rose to 3.5% in March due to rents and gas prices, exceeding expectations.
- Investors are uncertain about potential interest rate cuts by the Federal Reserve.
7 Articles
7 Articles
The Dow Jones Industrial Average dropped 422.16 points, or 1.09%, and closed at 38.461.51. On a similar line, both the S&P 500 and Nasdaq Composite experienced declines of 0.95% and 0.84%, respectively. This decline extended to several sectors, such as real estate, which suffered the largest losses, with 4.1%.
Dow drops nearly 500 points after a surprisingly bad inflation report
By Nicole Goodkind, CNN New York (CNN) — US stocks fell sharply Wednesday after inflation data for March came in higher than expected. The blue-chip Dow was lower by 467 points, or 1.2%. The S&P 500 lost 1% and the Nasdaq Composite fell by 1%. US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Stat…
Dow Jones Drops 500 Points After Strong US Inflation Report
U.S. stocks fell sharply on Wednesday after federal inflation data for March was hotter than previously anticipated. The Dow Jones dropped by more than 500 points by 12 p.m. EST, in part driven by declines in shares of Home Depot and Intel. The benchmark S&P 500 Index also lost about 1 percent, and the Nasdaq Composite dropped the same amount. Home Depot was down by more than $10, or 2.8 percent, and Intel was down about $1, or 2.6 percent, as o…
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