Dow and S&P 500 are on track for their steepest declines in nearly seven months.
- Consumer prices surged in April by the most in any 12-month period since 2008 as the recovery picked up, reflecting both rising demand as the Covid-19 pandemic eases and supply bottlenecks.
- Investors had been watching for the Labor Department’s release Wednesday morning of data on consumer prices. That report showed the consumer-price index jumped 4.2% in April from a year before, the most in any 12-month period since 2008.
SOURCE – WSJ