The Nasdaq 100 tumbled more than 2% in Tuesday trading, extending its sharpest sell-off in weeks as April CPI confirmed inflation is no longer cooling. The rise pushed CPI to its highest level since May 2023, rattling investors and weighing on the Dow and S&P 500. Traders now face growing uncertainty over rates and market direction.
US stocks fell sharply after the CPI inflation report showed a 3.8% rise, the highest in three years. The Dow slid over 307 points, while the S&P 500 and Nasdaq posted losses. Treasury yields rose and the dollar strengthened, with tech stocks retreating as investors priced in the possibility of longer Federal Reserve rate cuts being delayed amid rising oil prices and Iran related tensions.
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Indian government bonds pared most of their losses on Monday as inflation came in softer than expected, drawing late-session value buyers. The move eased worries about rising price pressures after oil surged following the collapse of U.S.-Iran peace talks, as traders recalibrated expectations for future inflation and interest-rate direction.
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