NEW YORK (dpa-AFX) – Unexpectedly high inflation on Tuesday caused disillusionment among investors on the US stock exchanges, who had recently been more optimistic. The disappointment that the US annual inflation rate weakened only slightly was particularly great among tech stocks, which are considered to be particularly interest-sensitive. Investors see this as an indication that the pressure on the US Federal Reserve to tighten monetary policy is not easing and that a recession is still looming.
After half an hour of trading, the Dow Jones Industrial (Dow Jones 30 Industrial) fell by 1.94 percent to 31,753.98 points, equalizing the price gains of the past two trading days. Other indices lost even more: the broader S&P 500 lost 2.32 percent to 4,015.14 points and the tech-heavy NASDAQ 100 slumped 3.26 percent to 12,324.32 points.
The US dollar and capital market interest rates in the USA also rose sharply after the disappointing inflation data, which suggests that investors are expecting further significant interest rate hikes by the Fed. The US stock exchanges had recently recovered for four trading days in the hope that inflation would weaken more. This hope has now been disappointed./tih/jha/