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Stocks Tumble After Inflation Report. Dow Sheds 1,000 Points.

Stock Markets Sep 13, 2022 03:05PM ET
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By Liz Moyer

Investing.com -- U.S. stocks sold off sharply after August’s inflation report came in higher than expected.

At 15:02 ET (19:02 GMT), the Dow Jones Industrial Average was down 1071 points, or 3.3%, while the S&P 500 was down 3.6% and the NASDAQ Composite was down 4.4%.

The consumer price index for August showed inflation rose 0.1% from July despite the drop in the price of gasoline. From last year, inflation was up 8.3%, while analysts had expected an 8.1% print.

The sell off hit tech stocks particularly hard, with Apple Inc (NASDAQ:AAPL) down 5%, and Microsoft Corp (NASDAQ:MSFT) down more than 4%, while shares of Meta Platforms Inc (NASDAQ:META) dropped more than 8%.

Money markets forecast an 81% chance of a 75-basis-point increase in interest rates when the Federal Reserve meets next week, and a nearly 20% chance of a full 100 basis point hike.

Tuesday's decline comes after stocks had rallied as investors took advantage of August's market declines.

This is the last inflation report before the Fed’s policy meeting next week. Investors had hoped the Fed would have some reason to raise rates less dramatically. But the Fed is determined to quash inflation despite the risk of pushing the economy into a recession. And Tuesday's report dampens hopes that inflation has already peaked.

Stocks Tumble After Inflation Report. Dow Sheds 1,000 Points.
 

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Comments (13)
Road Trip
Road Trip Sep 14, 2022 1:45AM ET
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you pay for gas three times, taxes that filled the national reserves oil stock ,at the pumps when you fill up,and the 3rd time when they refillthe national stock reserve.
Gordan Zamic
Gordan Zamic Sep 13, 2022 4:21PM ET
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hahahah, pure f...manipulation! form June 9.1, July 8.5 and August 8.3% l, here i see only reatreat of inflation! but no, today we witness how you can manipulate market, shame US ☝
TheEnd IsNigh
TheEnd IsNigh Sep 13, 2022 4:05PM ET
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lol They fought hard to keep the DOW from going lower than the biggest single day loss in market history, which was 3/2/2020. It was down nearly 1350 on the day but man there was one heckuva push to keep it above 1293.96.
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 4:05PM ET
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Lol!!
Jack AAA
Jack_A Sep 13, 2022 4:04PM ET
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One of the best days in my investment history!
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 4:04PM ET
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More fun to come this week!!!
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 4:04PM ET
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More fun to come this week!!!
Alan Rice
Alan Rice Sep 13, 2022 3:55PM ET
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Fed funds will need to exceed 8%. Dow needs to drop another $10,000.
Gordan Zamic
Gordan Zamic Sep 13, 2022 3:55PM ET
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yeah that's right to zero, everything free...🤣🤣🤣🤣🤣
Best Movies Clips
Best Movies Clips Sep 13, 2022 3:53PM ET
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Red color for all stocks in Asia tomorrow 😬😨😥
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 3:53PM ET
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For sure... Deep Red!!! not just for Tomm....
Mitchel Pioneer
Mitchel Pioneer Sep 13, 2022 3:52PM ET
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And the curtain rises on the "late trade" magic show.  Can't have a closing low in the BIGGEST INVESTMENT JOKE IN THE WORLD.
Kris Jay
Kris Jay Sep 13, 2022 3:52PM ET
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you're obviously upset about something as you keep posting nearly the same thing.  its not clear "fraud" or "joke" are appropriate words.  is your thesis that the markets are manipulated by some entity somehow?  If you spoke intelligently on the issue it would be easier to sympathize but the same post with no data just looks like a rant.
First Last
First Last Sep 13, 2022 3:52PM ET
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And shouting w/ all caps.  Mit is ranting and raving.
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 3:36PM ET
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Buy.. Buy.. Buy.... Last leg of correction!! ... Bye Bye to Buy Buy!!
Sudarshan Shinde
Sudarshan Shinde Sep 13, 2022 3:33PM ET
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this week is down and come back next week
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 3:33PM ET
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Next week.. if Fed goes by 100bps... next 1 month ... it will be bloodbath
Sulabh Tripathi
Sulabh Tripathi Sep 13, 2022 3:33PM ET
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forget one week.... Two more sessions... and Sp500 will make new monthly lows....
Kris Jay
Kris Jay Sep 13, 2022 3:33PM ET
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you have to be joking.
Sudarshan Shinde
Sudarshan Shinde Sep 13, 2022 3:33PM ET
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this week is down and come back next week
 
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