Markets were spooked by a red-hot CPI reading
Wall Street tumbled Wednesday, as hotter-than-expected inflation data rattled markets and extended 2025's sideways trading. The Dow shed 225 points, but was off by over 400 points at its session lows. The S&P 500 posted a more modest decline while the Nasdaq finished flat, with losses stymied by strength in select mega-cap tech stocks. Elsewhere, the 10-year Treasury yield surged past 4.65%, reinforcing fears that the Federal Reserve may keep interest rates elevated longer than anticipated.
Continue reading for more on today's market, including:
- Options traders pounced on these 3 stocks.
- Signal says buy the dip on this pharma stock.
- Plus, earnings reports you may have missed, and more inflation data next week.
5 Things to Know Today
- Tulsi Gabbard is now the director of national intelligence. (CNBC)
- President Donald Trump says lower interest rates and tariffs should go "hand in hand." (Reuters)
- Popular AI stock boosted by revenue forecast.
- Unpacking this pharmaceutical giant's earnings report.
- Fed and inflation data are just getting started.
Oil, Gold Cool Off
Oil futures snapped a three-day winning streak, falling after U.S. data showed U.S. crude inventories rose for a third consecutive week. March-dated West Texas Intermediate (WTI) crude shed $1.95, or 2.7, to settle at $71.37 per barrel.
Gold prices moved higher Wednesday, but futures on the precious metal fell. The contract for February delivery last seen trading 0.2% lower at $2,927.30 an ounce.