The main indexes temporarily tumbled after Fed Chair Powell said interest rates could stay higher for longer.
Analysts expect the headline rate of inflation for March to ease to 3.2 per cent from 3.4 per cent, when new figures are published this week.
The U.S. economy is still hot, which means that the real-estate industry will face headwinds in the coming months due to higher mortgage rates.
March's consumer price index release Wednesday helped verify worries that inflation is proving stickier than thought.
Stocks slid and bond yields soared on Wednesday after inflation data came
Asian markets mirrored Wall Street's positive momentum, while oil prices rebounded and gold hovered near a one-week low. Bitcoin remained steady despite so-called halving. Investors eagerly awaited Global PMI data and Tesla's earnings report for market direction.
The soft landing is still on because spikes in inflation were a blip and the job market isn’t seeing many layoffs, Goldman’s chief economist says.
NEW YORK (AP) — A washout on Wall Street sent stocks sinking Wednesday, as worries rose that what seemed like a blip in the battle to bring down inflation is turning into a troubling trend. The S&P 500 dropped 0.9%, and the vast majority of stocks within the index fell. The Dow Jones Industrial Average []
Asian markets mirrored Wall Street's slide amid global interest rate concerns. The yen dipped below ¥153 against the dollar, reflecting market unease, while Chinese inflation edged up in March. Investors scaled back expectations for Federal Reserve rate cuts. The focus is on the European Central Bank's policy decision and US producer price data.
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In the wake of a market sell-off triggered by the inflation report, investors are being urged to buy stocks, with Fundstrat suggesting a potential June rate cut is still on the table. read more
A key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".