Nasdaq Futures Tumble Over 2% After Hotter-Than-Expected 8.6% May CPI Jump
Tiger Newspress2022-06-10
Nasdaq Futures Tumble over 2% After Hotter-Than-Expected 8.6% May CPI Jump.
S&P 500 e-minis were down 71.5 points, or 1.78%, and Dow e-minis were down 489 points, or 1.52%.
Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since 1981, the Bureau of Labor Statistics reported Friday.
The consumer price index, a wide-ranging measure of goods and services prices, increased even more than the 8.3% Dow Jones estimate. Excluding volatile food and energy prices, so-called core CPI was up 6%, slightly higher than the 5.9% estimate.
On a monthly basis, headline CPI was up 1% while core rose 0.6%, compared to respective estimates of 0.7% and 0.5%.
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