Most of Wall Street sinks after report of worsening inflation

U.S. stocks declined as inflation worsened unexpectedly, with the S&P 500 dropping 0.3% and the Dow Jones falling 0.5%. The inflation rate rose to 3% in January, higher than expected, leading to increased pressure on financial markets and speculation that the Federal Reserve may not cut interest rates as anticipated. Some companies like Gilead Sciences and CVS Health reported strong earnings, but overall market sentiment remained negative due to rising Treasury yields and concerns over high inflation.

Keywords: U.S. stocks, inflation, Federal Reserve

Source: Los Angeles Times

Update At: 2/13/2025