The US inflation report of August came in higher than expected- even though controlled gas prices only contributed to a 0.1%, the overall measure spiked up to a 0.6%, excluding food and energy prices. Due to this, socks went down by quick selling off, including Intraday by 4%, S&P by 4.5%, and Nasdaq Composite by 5.3%. Tightening measures of Fed will potentially increase the policy rate by a potential 75bps hike, a continuous third-time increase; as the central bank tries to shift rates to the restricted territory.
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