Wall Street falls on hot inflation and Fed rate worries
US stocks retreated as a hotter-than-expected inflation reading cemented expectations for a Federal Reserve rate hike. Hawkish comments from central bank officials further fueled concerns over aggressive monetary tightening.
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United States stocks fell during Tuesday afternoon trade as hotter-than-expected inflation data cemented expectations for a Federal Reserve rate hike next month. The drop followed comments from central bank officials signaling a potentially more aggressive monetary tightening path ahead. Markets are now fully pricing in at least a 25 basis point increase at the December FOMC meeting.
