‘Very Bad’: Ultra-Hot Inflation Print Sends Markets Reeling Anew

Stocks tumbled on Wednesday after inflation accelerated in June more than expected, putting pressure on the Federal Reserve to remain aggressive in its fight against price increases.

The S&P 500 slumped after data showed the consumer price index rose 9.1% from a year earlier, the largest gain since 1981. The print reaffirmed that inflation has been rampant and widespread throughout the economy. For investors, it reinforced views that the central bank will have to continue to be aggressive in its attempts to tamp it down. the tech-heavy Nasdaq 100 fell more than 2% as the market opened New York.

Dennis DeBusschere, the founder of 22V Research called the reading, “very bad.”

Here’s what else Wall Street is saying: