© Reuters. One trader is shocked as another trader follows the movement of the shares on the New York Stock Exchange on Tuesday. Photograph: Andrew Kelly, Reuters.
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NEW YORK (Reuters) – A massive sell-off has pushed US equities steeply lower after a report showed US inflation unexpectedly rose in August, nullifying hopes that the Federal Reserve will ease policy tightening in August. near future.
All three major US equity indices fell sharply, breaking a four-day winning streak and suffering the largest one-day loss in more than two years.
Increased risk aversion drove all major sectors to the downside, with interest rate sensitive tech stocks led by Apple (NASDAQ :), Microsoft and Amazon (NASDAQ 🙂 the biggest losers.
The U.S. Department of Labor said its consumer price index rose 0.1% last month, after having remained unchanged in July. Economists interviewed by Reuters had expected a drop of 0.1%.
According to preliminary data, the index fell 177.72 points, or 4.32 percent, to close at 3932.69 points, while the Nasdaq Composite lost 631.41 points, or 5.16 percent, to close. drop to 11,635.01 points. The industrial index fell 1285.66 points, or 3.97 percent, to 3,1095.68 points.
(Prepared by Mustafa Saleh for the Arabic Bulletin)
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