Wall Street Tumbles as Hot US Inflation Stokes Rate Hike Fears
Sharp inflation data sent US stocks toward their worst day since June and fueled expectations of a Federal Reserve rate hike.
US stock indices plunged sharply following the release of September inflation data, heading toward their worst trading day on Wall Street since June, the AP news agency reported. According to Reuters, the sell-off weighed heavily on artificial intelligence stocks.
Concurrently, outlets Realtor.com and RealEstateNews.com reported that the hot inflation figures increased market expectations of a Federal Reserve interest rate hike this month. The New York Times noted that soaring energy prices were a primary driver behind the inflation uptick.
Sources: Realtor.com, The New York Times, AP News, Reuters, The Washington Post, RealEstateNews.com
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