Stocks fell greatly after frustrating information on inflation made financiers face the bitter possibility that rate of interest will remain high for months longer than they were hoping
ByThe Associated Press
February 13, 2024, 4:51 PM
Stocks fell dramatically after frustrating information on inflation made financiers face the bitter possibility that rates of interest will remain high for months longer than they were hoping.
The S&P 500 fell 1.4% Tuesday after clawing back part of a bigger intraday loss. The worse-than-expected inflation report might have put the last nail into hopes that the Federal Reserve might provide its very first rates of interest cut in March. It likewise pressed numerous projections previous May into June.
The Dow fell 1.4% and the Nasdaq composite toppled 1.8%. The tiniest stocks took a few of the greatest losses as Treasury yields rose in the bond market.
On Tuesday:
The S&P 500 fell 68.67 points, or 1.4%, to 4,953.17.
The Dow Jones Industrial Average fell 524.63 points, or 1.4%, to 38,272.75.
The Nasdaq composite fell 286.95 points, or 1.8%, to 15,655.60.
The Russell 2000 index of smaller sized business fell 81.08 points, or 4%, to 1,964.17.
For the week:
The S&P 500 is down 73.44 points, or 1.5%.
The Dow is down 398.94 points, or 1%.
The Nasdaq is down 335.06 points, or 2.1%.
The Russell 2000 is down 45.82 points, or 2.3%.
For the year:
The S&P 500 is up 183.34 points, or 3.8%.
The Dow is up 583.21 points, or 1.5%.
The Nasdaq is up 644.25 points, or 4.3%.
The Russell 2000 is down 62.90 points, or 3.1%.