Dow falls 800 points, Nasdaq drops 3% after inflation reading hits 40-year high – #marketnews

0
78

Stocks dropped on Friday after a highly anticipated inflation report showed a faster-than-expected rise in prices and consumer sentiment hit a record low.

The Dow Jones Industrial Average shed 815 points, or 2.5%. The S&P 500 fell 2.8%, while Nasdaq Composite sank 3.3%.

The [May consumer price index report]( https://www.cnbc.com/2022/06/09/may-consumer-inflation-expected-fiery-hot-as-gas-food-and-rent-rose.html) came in at its highest level since 1981, putting pressure on the stock market. The report showed prices rising 8.6% year over year, and 6% when excluding food and energy prices. Economists surveyed by Dow Jones were expecting year over year increases of 8.3% for the main index and 5.9% for the core index.

[ https://www.cnbc.com/2022/06/09/stock-market-news-open-to-close.html](https://www.cnbc.com/2022/06/09/stock-market-news-open-to-close.html)

This site uses Akismet to reduce spam. Learn how your comment data is processed.