scorecardresearchWall Street outlook darkens as grim inflation report tees up more US Fed hawkishness

Wall Street outlook darkens as grim inflation report tees up more US Fed hawkishness

Updated: 14 Sep 2022, 07:55 AM IST
TL;DR.
For weeks, investors had debated whether the full extent of Fed hawkishness had been priced into markets, after the central bank already raised rates by 225 basis points this year, with many penciling in another 75 basis point rate hike at its meeting next week.
NEW YORK, NEW YORK - SEPTEMBER 13: Traders work on the floor of the New York Stock Exchange during afternoon trading on September 13, 2022 in New York City. U.S. stocks opened lower today and closed significantly low with the Dow Jones dropping over 1,200 points after the release of an inflation report that showed prices rising more than expected in the last month. The Consumer Price Index released by the Bureau of Labor Statistics showed prices rising 8.3% over the last year, for which economists had predicted an 8.1% increase.   Michael M. Santiago/Getty Images/AFP

NEW YORK, NEW YORK - SEPTEMBER 13: Traders work on the floor of the New York Stock Exchange during afternoon trading on September 13, 2022 in New York City. U.S. stocks opened lower today and closed significantly low with the Dow Jones dropping over 1,200 points after the release of an inflation report that showed prices rising more than expected in the last month. The Consumer Price Index released by the Bureau of Labor Statistics showed prices rising 8.3% over the last year, for which economists had predicted an 8.1% increase. Michael M. Santiago/Getty Images/AFP