Dow Suffers Biggest Loss in 11 Months as Early Fed Rates Cuts Look Increasingly Unlikely

Don Ma
By Don Ma
February 14, 2024NTD Good Morning

Following the release of Tuesday’s higher-than-expected inflation data, bets by traders for a rate reduction in May decreased. Wall Street’s main indexes tumbled Tuesday on the news, with the Dow Jones Industrial Average particularly affected, posting its biggest one-day percentage drop in nearly 11 months. The S&P 500, Nasdaq, and the Dow all dropped over one percent. Markets are taking the news hard, as it puts a nail in the coffin of hopes for early Fed rate cuts.

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