Stocks Are Tumbling After Higher-Than-Expected Inflation Reading
Stocks sell off broadly, with the tech sector taking a bigger blow after back-to-back hot inflation prints suggest a stalling of price deceleration.
The Dow Jones Industrial Averaged fell 440 points, or 1%, at the open. The S&P 500 fell 1.1%, and the tech-heavy Nasdaq Composite was down 1.2%.
Consumer inflation rose 3% in January, according to the Bureau of Labor Statistics, propelled partly by higher prices of groceries.