S&P 500 Falls as Traders Deal With New Inflation Data, September Volatility
The S&P 500 slipped on Wednesday as investors digested the latest consumer inflation report in an attempt to understand the health of the broader economy.
The broad-market index shed 0.6%, while the Dow Jones Industrial Average lost 446 points, or 1.1%. The Nasdaq Composite hovered below the flatline.
Nvidia and Apple gained more than 2% and 1%, respectively, helping lift the tech-heavy Nasdaq. UnitedHealth Group, Goldman Sachs and Amgen dragged the Dow lower.
The consumer price index report released Wednesday reflected a 0.2% increase in prices last month, with the annual inflation rate coming in at 2.5% ââ-š¬Ã¢â‚¬ its lowest level since February 2021. The CPI was expected to increase 0.2% in the previous month and 2.6% from a year ago, according to the Dow Jones consensus estimate.
Source : CNBC