Dow Drops 600 Points Ahead Of Looming Inflation Report
Summary by Ground News
The major averages saw further downside going into the close, ending the session at their worst levels of the day. The sell-off came as traders looked ahead to the release of a Labor Department report on consumer price inflation on Friday. The inflation data could have an impact on the outlook for monetary policy ahead of the Federal Reserve's decision on interest rates next Wednesday. In the bond market, treasuries showed a lack of direction before closing modestly higher.
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Times of India
US stocks tumble as rate pressures grow, inflation report looms
The S&P 500 sank 2.4%, putting it on track for its ninth losing week in the last 10. The Dow Jones Industrial Average fell 1.9%, and the Nasdaq composite lost 2.7%. Investors have been searching for signs that inflation may have already passed its peak, which would be good for markets because it could mean a less aggressive Fed.
Wall St drops as investor jitters climb before CPI data Friday
U.S. stocks sold off sharply Thursday as investor anxiety heightened ahead of data on Friday that is expected to show consumer prices remained elevated in May.
Stocks tumble as rate pressures grow, inflation report looms
NEW YORK (AP) — Stocks on Wall Street tumbled Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets. The S&P 500 sank 2.4%, putting it on track for its ninth losing week in the last 10.
Stocks tumble as rate pressures grow, inflation report looms
Wall Street’s losses accelerated as the closing bell for trading approached, with traders scrambling to get in last moves ahead of a highly anticipated report on U.S. inflation due Friday morning.