Wall Street falls, panicked by the stubbornness of inflation

The New York Stock Exchange closed sharply lower on Tuesday, in a market ravaged by a higher-than-expected US inflation indicator, which has dampened the optimism of the past few days and suggests an even more brutal-than-expected monetary tightening.

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The Dow Jones fell 3.94%, the Nasdaq Index by 5.16% and the broader S&P 500 Index by 4.32%. This is the worst NASDAQ session since mid-June.

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