Wall Street falls as hot CPI and Iran tensions weigh
U.S. stocks fell as April inflation hit 3.8 percent and Iran tensions lifted oil prices. The data suggests the Federal Reserve will keep rates steady for longer.
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Major United States stock indexes fell on Tuesday morning as a 3.8% annual rise in consumer prices dampened hopes for interest rate cuts. The S&P 500 and Nasdaq pulled back from record highs reached the previous evening. The Federal Reserve is now expected to keep rates unchanged through the end of the year.
