BLACK TUESDAY? Dow Falls Over 1,200 Points FOR WORST DAY SINCE JUNE 2020 After Confusing Inflation Report and After it Has Been Announced That U.S. May Put Sanctions on China in an Attempt to Keep Them From Starting a War With Taiwan
Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.
The Dow Jones Industrial Average slid 1,276.37 points, or 3.94%, to close at 31,104.97. The S&P 500 dropped 4.32% to 3,932.69, and the Nasdaq Composite sank 5.16% to end the day at 11,633.57.
Just five stocks in the S&P 500 finished in positive territory. Tech stocks were hit particularly hard, with Facebook-parent Meta skidding 9.4% and chip giant Nvidia shedding 9.5%.
Source: CNBC, Jesse Pound, Carmen Reinicke