Stocks Tumble On Heels Of Hot August Inflation Report

Posted on AllSides September 13th, 2022
From The Center

U.S. stock index futures fell sharply on Tuesday after data showed a faster-than-expected rise in August consumer prices, cementing bets of a third straight 75-basis-point rate hike from the Federal Reserve next week.

The Labor Department's consumer price index (CPI) report showed monthly CPI rose 0.1% in August from July, against expectation of a 0.1% contraction, while on a year-on-year basis it edged down to 8.3% from 8.5%.

Excluding the volatile food and energy components, core CPI likely increased to 6.3% from 5.9% in July, putting further pressure on the...

Read full story

International Business Times

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
See full bias rating for International Business Times
Learn about media bias

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right