{"id":461274,"date":"2022-06-10T17:10:47","date_gmt":"2022-06-10T14:10:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-stocks-tank-over-sky-high-may-inflation-data\/"},"modified":"2022-06-10T17:10:47","modified_gmt":"2022-06-10T14:10:47","slug":"us-stocks-tank-over-sky-high-may-inflation-data","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-stocks-tank-over-sky-high-may-inflation-data\/","title":{"rendered":"#US stocks tank over sky-high May inflation data"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28bb4472118\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28bb4472118\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-stocks-tank-over-sky-high-may-inflation-data\/#%E2%80%9CUS_stocks_tank_over_sky-high_May_inflation_data%E2%80%9D\" >&#8220;US stocks tank over sky-high May inflation data&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CUS_stocks_tank_over_sky-high_May_inflation_data%E2%80%9D\"><\/span>&#8220;US stocks tank over sky-high May inflation data&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Stocks plummeted on Friday as data showing inflation accelerated to a fresh four-decade high in May rattled Wall Street and sent indexes to another week of losses. <\/p>\n<p>The Dow Jones Industrial Average tumbled \u00a0880 points or 2.7%. The tech-heavy Nasdaq index slid 414.21 points, or 3.5%, while the broad-based S&amp;P 500 sank 116.96 points, or 2.9%.<\/p>\n<p>All three indexes posted their biggest weekly percentage declines since January.<\/p>\n<p>The CBOE Volatility Index, known as Wall Street\u2019s \u201cfear gauge,\u201d jumped nearly 5% to 27.91 points.<\/p>\n<p>Both major oil price benchmarks, the West Texas Inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te and the Brent crude, were hovering above $120 per barrel as the Russia-Ukraine war and surging demand upend global energy markets.<\/p>\n<p>The volatility also impacted cryptocurrencies, which have moved in tandem with the stock market in recent months. Bitcoin sank more than 2% to $29,077.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-88.jpg?w=1024\" alt=\"Worried NYSE trader\" class=\"wp-image-22607169\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-88.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-88.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-88.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Friday\u2019s market slump followed a selloff on Thursday over rate hike fears.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The latest Consumer Price Index data added to the fears regarding the Federal Reserve\u2019s ability to engineer a \u201csoft landing\u201d for the economy while hiking rates. Prices surged by a higher-than-expected 8.6% in May, reaching their fastest rate of increase since 1981.<br \/>The inflation numbers also added to volatility that has weighed on stocks for the last several months.<\/p>\n<p>Investors are concerned that the Fed won\u2019t be able to combat red-hot inflation without triggering an economic recession.<\/p>\n<p>May\u2019s steep inflation figure was driven largely by the higher cost of gas, which has hit record highs in recent days. Overall consumer prices jumped 1% in May compared to the previous month.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-71-1.jpg?w=1024\" alt=\"Grocery store\" class=\"wp-image-22607168\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-71-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-71-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-71-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>High food and gas prices drove May inflation that hit 8.6%.<\/figcaption><figcaption><span class=\"credit\">Xinhua <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> Agency via Getty Ima<\/span><\/figcaption><\/figure>\n<p>\u201cFriday\u2019s inflation data suggests the \u2018peak inflation\u2019 debate may be premature,\u201d said Nancy Davis, founder of Quadratic Capital Management. \u201cThe idea of peak inflation assumes that our supply chain disruptions are over and won\u2019t recur anytime soon and I\u2019m not so sure we can be confident of that.\u201d<\/p>\n<p>Fed Chair Jerome Powell has already indicated that the central bank is likely to enact larger-than-normal half-percentage point rate hikes at meetings later this month, with another expected in July. In May, the Fed hiked rates by a half-percentage point for the first time since 2000.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gas-820000.jpg?w=1024\" alt=\"Gas prices\" class=\"wp-image-22607167\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gas-820000.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gas-820000.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gas-820000.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Gas prices have hit record highs across the nation.<\/figcaption><figcaption><span class=\"credit\">Christopher Sadowski<\/span><\/figcaption><\/figure>\n<p>While some analysts have suggested the Fed could pause its hikes in September to assess economic conditions, the steep inflation number in May could add to the bank\u2019s urgency.<\/p>\n<p>Fed Vice Chair Lael Brainard said earlier this month that she felt it was \u201cvery hard to see the case for a pause.\u201d<\/p>\n<p>\u201cWe\u2019ve still got a lot of work to do to get inflation down to our 2% target,\u201d Brainard told CNBC.\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/10\/us-stocks-tank-over-sky-high-may-inflation-data\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;US stocks tank over sky-high May inflation data&#8221; Stocks plummeted on Friday as data showing inflation accelerated to a fresh four-decade high in May rattled Wall Street and sent indexes to another week of losses. The Dow Jones Industrial Average tumbled \u00a0880 points or 2.7%. The tech-heavy Nasdaq index slid 414.21 points, or 3.5%, while&#8230;<\/p>\n","protected":false},"author":1,"featured_media":461275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-91.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[130176,73977,70551,72332,80348,72388,70359],"class_list":["post-461274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-10-22","tag-dow-jones-industrial-average","tag-inflation","tag-nasdaq","tag-sp-500","tag-stock-market","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/461274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=461274"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/461274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/461275"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=461274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=461274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=461274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}