Closing Bell: Stocks suffer worst day since 2020 as hot inflation cools market 9/13/22
A surprisingly hot inflation print sent the major averages plummeting on Tuesday, with the Dow, S&P 500 and Nasdaq posting their worst session since the early days of the pandemic. David Zervos from Jefferies, Anastasia Amoroso from iCapital, and Richard Bernstein from Richard Bernstein Advisors discuss the implications for the Fed’s rate hike timeline. Dan Niles breaks down the trade in hard-hit tech, and explains why he thinks inflation will remain higher for longer than most people think. And the CEO of Wingstop talks about rising food costs, which jumped by the most since 1979.
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