US stocks fall following another hot inflation report
NEW YORK (AP) — Stocks fell broadly in afternoon trading on Wall Street Thursday after another hot reading on inflation had investors bracing for another big interest rate hike from the Federal Reserve later this month.
The S&P 500 fell 0.9% as of 12:01 p.m. Eastern. More than 95% of companies in the benchmark index were in the red. The Dow Jones Industrial Average fell 306 points, or 1%, to 30.468 and the Nasdaq fell 0.6%.
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