Consumer prices increased more than anticipated in January, sparking worries that inflation would resurface.
As a result, the S&P 500 fell and interest rates jumped on Wednesday.
When the Dow Jones Industrial Average fell 225.09 points, or 0.5%, to 44,368.56, the broad market index fell 0.27% to finish at 6,051.97.
The Nasdaq Composite closed at 19,649.95, up 0.03%.
Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute, stated, “The hotter than expected CPI confirms investors’ anxiety regarding too-hot inflation that will keep the Fed on the sidelines (as opposed to cutting rates).”
“Risk markets can rise, but the trajectory will be more choppy than it has been in the previous two years.”
Source (CNBC)
