Wall Street ditches rate cut expectations as inflation spike dashes June rate cut hopes
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The stock market saw a downturn on Wednesday, often referred to as a "washout," primarily due to a spike in inflation data. This occurrence dampened expectations that the U.S. Federal Reserve would begin interest rate reductions as early as June. The three major U.S. stock indexes experienced significant losses after the U.S. Labor Department released the Consumer Price Index (CPI) report, which surpassed consensus expectations.
Wall Street ditches rate cut expectations as inflation spike dashes June rate cut hopes
Wall Street ditches rate cut expectations as…
Wall Street ditches rate cut expectations as inflation spike dashes June rate cut hopes
The stock market saw a downturn on Wednesday, often referred to as a "washout," primarily due to a spike in inflation data. This occurrence dampened expectations that the U.S. Federal Reserve would begin interest rate reductions as early as June. The three major U.S. stock indexes experienced significant losses after the U.S. Labor Department released the Consumer Price Index (CPI) report, which surpassed consensus expectations.