New York — The stock market has fallen the most since June 2020 after modest Wall Street realized that inflation was not slowing as much as hoped.
The Dow Jones lost more than 1,250 points, and the S . index lost more than 1,250 points& P 500 sank 4.3%.
A hotter-than-expected report on inflation on Tuesday has traders bracing for the Federal Reserve’s eventual higher-than-expected rate hike, with all the risks to the economy.
Bond prices also fell, sending yields up sharply, after the government announced that inflation slowed last month less than economists had expected.
The decline did not wipe out the market’s gains over the past four days.
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