BREAKING: Global stocks tumbled and the S&P 500 closed in bear market territory as fears over inflation rattle investors around the world.
June 13, 2022, 4:13 PMA sign for Wall Street hangs in front of the New York Stock Exchange, on July 8, 2021. Stocks are opening lower on Wall Street Thursday, June 9, 2022, putting major indexes into the red for the week.Monday as fears over inflation rattle investors around the world.&P 500 closed down 151 points, or 3.88%, meaning it's down 21.3% since its high on Jan. 3. The Dow was down 876 points and the Nasdaq dropped 530 points .. U.S. consumer prices surged 8.
A woman wearing a protective mask in front of an electronic stock board showing Japan's Nikkei 225 and New York Dow indexes at a securities firm Friday, June 10, 2022, in Tokyo.According to the CME FedWatch Tool, there is now about a 25% chance that the Fed will raise short-term interest rates by three-quarters of a point at the end of Wednesday's policy meeting as the Fed ratchets up its fight against high inflation.
Inflation fears have sparked a broad-based selloff on Wall Street that has spread beyond stocks to the bond market and cryptocurrencies. Bitcoin, the biggest cryptocurrency, traded below $24,000, down nearly 14% in just 24 hours.
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