Inflation Is Set to Smack Down the Market Thursday
Stocks looked poised to get off to a poor start on Thursday as market volatility continued. As of 8:30 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 365 points to 32,900. S&P 500 (SNPINDEX: ^GSPC) futures dropped 47 points to 4,229, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures fell 198 points to 13,537.
Some big movers in the after-hours session Wednesday night continued to make headlines this morning, with dramatic moves in their stock prices. However, most investors focused their attention on the latest report on inflation, and the pressures on consumer prices remained a big threat to the future of the U.S. economy.
The February report on the consumer price index (CPI) from the Bureau of Labor Statistics showed no let-up in the pricing pressures that have plagued the U.S. economy for nearly a year now. The CPI overall rose 0.8% for the month in February. That brought the year-over-year rise in the index to 7.9%, which was the largest increase in 40 years.
Source Fool.com
