Wall Street Today: Dow Jones drops 400 points because US inflation increases by 50 bps 3% yoy, expectations for fed rate cuts. Stock market news

Wall Street today: After expecting the US Federal Reserve Rate cut, the US Federal Reserve Rate reduced the US Federal Reserve Rate After the Stock Market opened less, when the expected inflation for January 2025 after US labor statistics Was more posted than data.

According to an official press release from the Bureau of Labor Statistics, the US Consumer Price Index (CPI) increased by 0.5 percent or 50 basis points to 3 percent compared to the previous year.

As per the data release, CPI inflation for the month of December was 2.9 percent. The inflation data released on Wednesday supported the American Federal Reserve President Geom Powell’s stance that the US was not in a hurry to cut rates.

In the data release, the US Labor Statistics Bureau said, “All item index increased by 3.0 percent for 12 months ending January to 2.9 percent in 12 months ended December.”

As soon as the market opened in New York at 9:30 am (EST), the major benchmark index, Dow Jones Industrial Average, more than 400 points opened at 44,153.60 points, compared to about 44,593.65 points of the previous stock market.

Dow jones stock

After the index decreases, many shares, such as the Home Depot Inc., Sherwin-Catteriums Company, Caterpillar Inc., Amazon.com Inc., Amazon.com Inc., American Express Company, Cisco Systems Inc., 3m Co. NIKE Inc., Microsoft Corp., were among the top losers in the early market session.

United Health Group Inc., Walmart Inc., JP Morgan Chase & Company, and Apple Inc. Shares were in green during Wednesday’s market session.

S&P 500

The S&P 500 index opened 0.92 percent less at 6,012.78 points as compared to about 6,068.50 points of the previous stock market.

CVS Health Corp, Gilid Sciences Inc., Edwards Lifesainsses Corp, Genac Holdings Inc., Humana Inc., Super Micro Computer Inc. According to data collected from marketwatch, benefits on the index.

Wabtec, watters corp., biogen incin, iron mountarect inc. Early market session.