Refinitiv Newscasts - U.S. Day Ahead: Wall Street falls as inflation hits 40-year high

Pfizer

10/02/2022 21:01

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_94cpa9wi&referenceId=1_94cpa9wi&pageId=RefinitivNewscasts
Source: Reuters

Description: U.S. consumer prices posted their largest annual gain in 40 years
- with inflation not only rising, but widening across the American economy.
The Labor Department data shows the broad increase in prices was led by
soaring costs for rents, electricity and food. Ten-year Treasury yields pushed
above two per cent on the news, for the first time in two and half years. Most
of the 11 major S&P 500 sectors were in decline, with megacap techs taking
much of the pain. But banks were in favor on that rise in yields - Wells
Fargo, Bank of America and Citigroup all making gains.
Short Link: https://refini.tv/3svvi5g

Video Transcript:

Verified transcript not available