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Wall St slides as hot inflation data dampens early rate-cut hopes

By Inquirer - 9 months ago
Wall Street’s main indexes slid on Tuesday, hitting one-week lows, after a hotter-than-expected consumer inflation reading drove U.S. Treasury yields higher, smashing market speculations for imminent interest rate cuts. A Labor Department report showed U.S. consumer prices increased more than expected in January amid rises in the costs of shelter and healthcare. Rate-sensitive megacaps like

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