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Markets Resume Selloff Following Worse-Than-Expected CPI Report

U.S. indices finished Wednesday’s trading session lower. Markets were highly volatile following the April CPI report, which showed worse-than-expected inflation.

The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn’t risen 8.3% in any month since 1982.

Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain… Read More

  • The Nasdaq composite finished lower by 3.06% to 11,967; The Invesco QQQ Trust Series 1 QQQ lost 2.97% to $291.84
  • The S&P 500 traded lower by 1.65% to 3,935; The SPDR S&P 500 ETF Trust SPY lost 1.58% to $392.77
  • The Dow Jones composite finished lower by 0.81% to 10,934; The SPDR Dow Jones Industrial Average ETF Trust DIA finished lower by 1.05% at $318.46

Here are the day’s winners and losers from the S&P 500, according to data from Benzinga Pro.

Electronic Arts Inc. EA, Baker Hughes Co BKR and Duke Realty Corp DRE were among the top gainers.

DISH Network Corp DISH, Enphase Energy Inc ENPH and Tesla Inc TSLA were among the top losers.

Elsewhere On The Street

After taking the market by storm in 2021, the growth of non-fungible tokens has faced some bumps in 2022. Ask those who cover the sector if the NFT market is dead or alive, and you may get some different answers… Read More

Terra and TerraUSD brought each other down in a cryptocurrency market catastrophe that would not be easy to forget… Read More

Dogecoin is crashing alongside the wider cryptocurrency market, down 21.7% at 9 cents at the time of writing. The meme coin is down about 88% from its all-time high of $0.7376 reached in May last year… Read More

Wayne Duggan contributed to this report.

This post was originally published on this site

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