The U.S. stock market on Wall Street closed lower today after data revealed inflation rates exceeded expectations. This news heightened investor speculation regarding the Federal Reserve’s potential interest rate hike next month.
The S&P 500 Index fell by 28.46 points, or 0.38 percent, closing at 7521.48 points.
The NASDAQ Composite dropped 185.90 points, a decrease of 0.74 percent, ending the day at 25067.23 points.
The Dow Jones Industrial Average declined by 161.95 points, or 0.31 percent, closing at 52227.80 points.
These losses occurred amid growing concerns about the continuation of tight monetary policy in the United States. Recent inflation data bolstered expectations for an interest rate increase, impacting investor appetite for the stock market.
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