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The US stock market fell after the inflation data


April, 10 2024
watermark Economic news

On Wednesday, US stock indexes began trading with a significant drop due to data on rising inflation in the United States. 


The Ministry of Labor of the country noted that the consumer price index (CPI) increased by 3.5% in March compared to the same period of the previous year, exceeding the February growth of 3.2%. 


Taking into account high inflation, the strong development of the American economy and a stable labor market, experts suggest that the likelihood of an early easing of the monetary policy of the Federal Reserve System is decreasing. According to market participants, the probability of a rate cut by 25 bps by July is now 47.8%. Yesterday, the estimate was 74.9%.


The latest data put pressure on the US stock market. The Dow Jones Industrial Average fell 1.34% to reach 38,364.48 points. All 30 companies included in the index were trading in the red. Shares of Goldman Sachs Group and Home Depot Inc. showed the largest declines, falling by 2.8% and 2.5%, respectively.


The Standard & Poor's 500 index fell 1.21% to 5,147 points, while the Nasdaq Composite index lost 1.2%, falling to 1,6111.06 points.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.