US EditionUS Stocks Sink on Worries About Inflation as Gold Falls Below $5,000 per Ounce
Wholesale inflation rose 3.4% last month as oil prices surged above $107 per barrel, prompting the Federal Reserve to maintain interest rates amid uncertainty from the Iran conflict.
- The Federal Reserve voted 11-1 on Wednesday to keep interest rates steady, disappointing markets. The Dow Jones Industrial Average dropped 1.6% and the Nasdaq fell 1.5% following the decision.
- Inflation pressures were building before the war with Iran disrupted the Persian Gulf's energy industry. Wholesale inflation unexpectedly accelerated to 3.4% last month, creating pressure on Fed policymakers.
- Brent crude jumped 3.8% to $107.38 on Wednesday, while benchmark crude reached nearly $99. The 10-year Treasury yield climbed to 4.25%, pushing investors toward higher-yielding assets and away from gold, which fell 2.2%.
- Chair Jerome Powell acknowledged uncertainty, stating "We just don't know" regarding oil prices and tariffs. Powell noted that several Fed officials downgraded their rate-cut forecasts to one for this year.
- According to CME Group data, market expectations for a single rate cut by year-end dropped to 49%, down sharply from 95% a month ago. Investors face significant uncertainty regarding the path of monetary policy amid persistent inflation and energy volatility.
13 Articles
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US stocks slump on worries about higher oil prices, inflation and interest rates - WSVN 7News | Miami News, Weather, Sports
NEW YORK (AP) — U.S. stocks slumped Wednesday after a report said inflation was primed to worsen even before the war with Iran caused oil prices to spike. That and comments from the head of the Federal Reserve pushed Wall Street to see less chance of getting the lower interest rates that it loves. The S&P 500 fell 1.4% and flipped to a loss for the week so far. The Dow Jones Industrial Average dropped 768 points, or 1.6%, and the Nasdaq composit…
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UpstractU.S. stocks sink on worries about inflation as gold falls below $5,000 per ounce
U.S. stocks are sinking Wednesday after a report said inflation was primed to worsen even before oil prices began spiking because of the war with Iran.
US stocks sink on worries about inflation as gold falls below $5,000 per ounce
U.S. stocks are sinking after a report said inflation was primed to worsen even before oil prices began spiking because of the war with Iran. The S&P 500 fell 1.1% Wednesday. The Dow Jones Industrial Average dropped 668 points, and the Nasdaq composite sank 1.1%. The losses deepened after the Fed...
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New York: U.S. shares slumped after a report stated inflation was primed to worsen even earlier than the battle with Iran despatched oil costs spiking. That and feedback from the top of the Federal Reserve pushed Wall Avenue on Wednesday to see much less likelihood of getting the decrease rates of interest that it loves. The S&P 500 fell 1.4% for its first loss this week. The Dow Jones Industrial Common dropped 1.6%, and the Nasdaq composite sli…
Stock Markets Today: Dow Falls After Powell Voices Inflation Worries
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