Why Dutch Bros Is Tumbling Today
Shares of Dutch Bros (NYSE: BROS) had tumbled 6.2% by 11:03 a.m. ET on Tuesday as the entire market is in a rout over the latest inflation numbers. The Dow Jones Industrial Average has lost more than 840 points so far, or 2.6%, while the S&P 500 is down 470 points, or 3.8%.
The Bureau of Labor Statistics reported August inflation numbers this morning and instead of falling as expected because energy prices had sharply declined 10.6% for the month, consumer prices rose 8.3%. That was up 0.1% from July, instead of the 0.1% decline forecast.
Even when the government tries to rejigger the numbers by removing food and energy from the equation, the so-called "core" index still rose 6.3% compared to the 6.1% expected.
Source Fool.com
