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Prices Cool, But Consumer Confidence Takes A Hit
Wholesale prices dropped in March—surprising economists who expected an increase—with the Producer Price Index falling 0.4%.
Wholesale prices dropped in March—surprising economists who expected an increase—with the Producer Price Index falling 0.4%.
The tech-heavy Nasdaq led a selloff among Wall Street’s main indexes, falling over 3% to a near six-month low, on fears that a tariff war could spark an economic slowdown.
Consumer spending unexpectedly fell in January while the annual increase in inflation slowed, supporting financial market expectations that the Federal Reserve would resume cutting interest rates in June.
By Tim Doescher May 15, 2024 (Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)
U.S. stocks closed lower on Wednesday after an abrupt mid-afternoon nosedive ended Wall Street’s impressive rally.