The Dow Jones Industrial Average and S&P 500 both hit all-time lows on Thursday as investors sold off their holdings amid signs of persistent inflation and rising jobless rates.
While the Dow dropped 90 points, or 0.2%, the broad market index fell by 0.3%.
The Nasdaq Composite saw a 0.5% decline. With a 0.2% monthly increase and a 2.4% annual inflation rate over the prior year, the September consumer price index increased last month more than anticipated.
That exceeded the expectations of Dow Jones’ polled analysts, who predicted a 0.1% monthly gain and a 2.3% year-over-year pace. It is the lowest amount since February 2021 when compared year over year.
Source (CNBC)
