U.S. stocks opened sharply lower after the consumer-price index showed inflation rose in June more than expected, with the annual rate climbing to a nearly...
U.S. stocks opened sharply lower after the consumer-price index showed inflation rose in June more than expected, with the annual rate climbing to a nearly 41-year high of 9.1%. The Dow Jones Industrial Average DJIA, -0.89% fell more than 350 points, or 1.2%,soon after the opening bell, while the S&P 500 SPX, -1.13% fell 1.3% and the Nasdaq Composite COMP, -1.53% dropped 1.
7%, FactSet data show, at last check. The U.S. Bureau of Labor Statistics said Wednesday that the consumer-price index rose 1.3% in June, bringing the inflation rate over the past year to 9.1%. Economists polled by the Wall Street Journal forecast the CPI data would show a monthly rise of 1.1%. In the bond market, the yield on the 10-year Treasury note TMUBMUSD10Y, 3.019% was up about 7 basis points at 3.03%, FactSet data show, at last check.
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