U.S. equities fell sharply today after inflation data came in hotter than expected. The Consumer Price Index (CPI) rose 0.4% in the latest report, reigniting fears that the Federal Reserve may delay planned interest rate cuts.
The Dow dropped over 300 points while tech-heavy NASDAQ slipped 1.8%. Financial and real estate sectors were among the worst performers as investors recalibrated expectations for monetary policy in the second half of the year.
