US EditionStocks Slide as US Inflation Clouds Rates Outlook
- Stock markets fell on Friday, as Wall Street indexes retreated from record highs due to accelerated US inflation readings, which affected interest rate cut expectations.
- The personal consumption expenditures price index held steady at 2.6 percent in July, above the Federal Reserve's target of two percent.
- The core reading, which excludes food and energy prices, rose slightly to 2.9 percent, indicating ongoing inflation concerns.
- Federal Reserve chief Jerome Powell indicated that rising inflation makes it difficult for the Fed to cut rates aggressively, even if a September cut is likely.
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Stock markets slide as US inflation clouds rates outlook
NEW YORK, United States — Stock markets fell Friday, with Wall Street indexes retreating from record highs. This happened as a key US inflation reading accelerated, lowering the possibility of sustained interest rate cuts in the coming months. Investors widely expect a cut next month to bolster the world’s largest economy. This was after Federal Reserve
·Manila, Philippines
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ABC FOX Montana+8 Reposted by 8 other sources
Stock markets retreat as US inflation clouds rates outlook
Stock markets fell on Friday, with US indexes retreating from record highs as a key US inflation reading accelerated, lowering the possibility of sustained interest rate cuts in the coming months.
·Missoula, United States
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The markets are digesting fresh US inflation data.
Coverage Details
Total News Sources55
Leaning Left5Leaning Right9Center13Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 19%
C 48%
R 33%
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