{"id":1471355,"date":"2022-05-11T09:45:08","date_gmt":"2022-05-11T13:45:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1471355"},"modified":"2022-05-11T09:49:24","modified_gmt":"2022-05-11T13:49:24","slug":"stocks-fall-as-inflation-rises-more-than-expected","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stocks-fall-as-inflation-rises-more-than-expected\/","title":{"rendered":"Stocks Fall as Inflation Rises More Than Expected"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstocks-fall-as-inflation-rises-more-than-expected%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1471355&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>By Amruta Khandekar and Devik Jain<\/p>\n<p>(Reuters)\u2014U.S. stocks were set to open sharply lower on Wednesday as consumer prices rose more than expected in April, fuelling concerns about aggressive monetary policy tightening.<\/p>\n<p>The Labor Department&#8217;s report showed consumer price index rose 0.3% last month, the smallest gain since August, but still above economists&#8217; forecast of a 0.2% rise.<\/p>\n<p>The monthly rise in<span class=\"highlight\" data-qa-component=\"highlight-text\"> inflation <\/span>was much smaller compared to the 1.2% surge in March, the largest increase since September 2005, but traders raised their bets that the Federal Reserve will hike rate by a bigger 75 basis points (bps) in June.<\/p>\n<p>Money market futures are now pricing in an 81% chance of a 75 bps hike next month. [IRPR]\n<p>&#8220;A bit of an upside surprise on all counts, so the peak<span class=\"highlight\" data-qa-component=\"highlight-text\"> inflation <\/span>story will definitely have to be kind of reconsidered in light of this data,&#8221; said Ross Mayfield, chief investment strategist at Baird Private Wealth Management.<\/p>\n<p>&#8220;They&#8217;re pretty well locked on to 50 basis point rate hikes. The data is an upside surprise, but it&#8217;s still a drop from March. So in a sense, they&#8217;re probably on the right path and they will continue with their previously laid out plan.&#8221;<\/p>\n<p>Investors have been concerned about whether aggressive moves from the central bank to curb decades-high<span class=\"highlight\" data-qa-component=\"highlight-text\">inflation <\/span>could tip the economy into recession, with latest coronavirus lockdowns in China deepening worries about faltering global economic growth.<\/p>\n<p>The tech-heavy Nasdaq closed higher on Tuesday but remains close to an 18-month low hit earlier this week as megacap growth stocks fell sharply on worries about rising rates denting future cash flows.<\/p>\n<p>At 08:50 a.m. ET, Dow e-minis were down 170 points, or 0.53%, S&#038;P 500 e-minis were down 31 points, or 0.78%, and Nasdaq 100 e-minis were down 153.5 points, or 1.24%.<\/p>\n<p>Following the<span class=\"highlight\" data-qa-component=\"highlight-text\"> inflation <\/span>data, yield on the benchmark 10-year Treasury note climbed back above 3%, putting pressure on interest-rate sensitive growth stocks. [US\/]\n<p>Megacap stocks such as Amazon.com, Microsoft Corp, Apple Inc, Google owner-Alphabet Inc, Meta Platforms and Tesla Inc fell between 1.0% and 1.5%.<\/p>\n<p>Coinbase Global Inc fell 22.9% after first-quarter revenue missed estimates amid a turmoil in global markets which has curbed investor appetite for risk assets.<\/p>\n<p>(Reporting by Amruta Khandekar, Devik Jain and Bansari Mayur Kamdar in Bengaluru; Editing by Arun Koyyur)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Amruta Khandekar and Devik Jain (Reuters)\u2014U.S. stocks were set to open sharply lower on Wednesday as consumer prices rose more than expected in April, fuelling concerns about aggressive monetary<\/p>\n","protected":false},"author":66,"featured_media":1482553,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1471355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1471355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1471355"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1471355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1482553"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1471355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1471355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1471355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}