• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, July 13, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

US stocks tumble as CPI numbers rise against market expectations

by Thomas Babychan
September 14, 2022
in Business, Markets, News, Popular, Trending, World
Reading Time: 2 mins read
0
US stocks tumble
TwitterWhatsappLinkedin

US Stocks listed on stock exchanges in the United States of America suffered huge losses on Tuesday as the consumer price index rose by 0.1% in August. Analysts and traders of US Stocks were not expecting an increase in the consumer price index as everyone believed decreasing oil prices will bring down CPI in the US economy.

You might also like

OpenAI Delays Highly Anticipated Open Model Release Indefinitely for Enhanced Safety Testing

Apple Reportedly Prepares for Major Product Flurry in Spring 2026, Boosting Retail Trader Confidence

Google’s $2.4 Billion Windsurf Deal Heats Up AI Talent Wars

Following the Russian invasion of Ukraine, Oil prices in the international market surpassed the mark of 120 dollars per barrel. The sudden increase in oil prices was caused due to western sanctioning of Russian oil and gas which was coupled with the post-pandemic imbalance in demand and supply for oil. The oil prices started cooling off after a few weeks as countries started to find a balance between demand and supply of oil.

As the consumer price index soared by 0.1%, smashing market expectations, The Dow Jones Industrial Average DJIA, fell about 1,276 points, or 3.9%, ending near 31,104. The S&P 500 index SPX shed 4.3% and the Nasdaq Composite Index COMP, tumbled 5.2%. Losses suffered by three major indices of US Stocks on Tuesday have been the worst daily performance since June 11, 2022.

A poll conducted by Reuters News Agency had predicted a decrease in the consumer price index by 0.1%. Such predictions of a decrease in CPI were taken seriously by the markets and analysts as everyone expected decreasing oil prices will decrease the prices of consumer goods. The year-over-year rate of the consumer price index slowed to 8.3% from 8.5% in July.

But the data released by the labour department and other statistics suggest that the gains from the decline in oil prices were offset by the increasing cost of rent and food.

The cost of purchasing food and accommodation has been steadily rising in the United States of America.
Eggs, which are a very important part of the average American meal saw their prices increase by nearly 40% over the last year. Prices of Butter, Coffee, Soup, and Hot dogs increased by 25%, 19%, 19% and 18% respectively.

A few days ago, US stocks and indices suffered huge losses following the speech of US Federal Reserve chief Jerome Powell at the Jackson Hole Symposium.

During his speech at a historic annual event which is participated by economists around the globe, Mr Powell stated that US Federal Reserve would continue taking aggressive steps to tame inflation in the US Economy.

The intentions of the US Federal Reserve regarding interest rate hikes went against market expectations which forced investors and traders to ditch US Stocks. Multi billionaires such as Tesla CEO Elon Musk and Amazon head Jeff Bezos lost millions of dollars at the end of the trading day.

Tags: #Inflation#US Consumer Price Index#US_economy#US_InflationCPIEconomyinflationary pressureus stocks
Tweet54SendShare15
Previous Post

ATandT To Offer Five G Services To New Phones Only

Next Post

Elon Musk’s ex is selling college photos and a signed birthday card from the billionaire to help pay her stepson’s college tuition

Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

Recommended For You

OpenAI Delays Highly Anticipated Open Model Release Indefinitely for Enhanced Safety Testing

by Anochie Esther
July 13, 2025
0
OpenAI

OpenAI, the leading artificial intelligence research and deployment company, has announced an indefinite delay in the release of its much-anticipated open model. This marks the second postponement for...

Read more

Apple Reportedly Prepares for Major Product Flurry in Spring 2026, Boosting Retail Trader Confidence

by Anochie Esther
July 13, 2025
0
Apple

Apple Inc. (AAPL), a titan of the tech industry, is reportedly gearing up for an extensive series of new hardware launches in the first half of 2026. This...

Read more

Google’s $2.4 Billion Windsurf Deal Heats Up AI Talent Wars

by Ishaan Negi
July 12, 2025
0
Google’s $2.4 Billion Windsurf Deal Heats Up AI Talent Wars

In a power move that signals escalating competition in the artificial intelligence sector, Google has secured a high-profile deal with coding AI startup Windsurf, paying a staggering $2.4...

Read more
Next Post
Elon Musk

Elon Musk’s ex is selling college photos and a signed birthday card from the billionaire to help pay her stepson’s college tuition

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?