Hot CPI Shock Hits Nasdaq: Wall Street’s Record Run Stalls as Fed Cut Bets Fade
Stocks slipped at the open Tuesday, with the Nasdaq bearing the brunt after April inflation numbers ran hotter than analysts had forecast—throwing a wrench into hopes for imminent Fed rate cuts. Both the S&P 500 and Nasdaq started in the red. The Dow managed a short-lived uptick, but that didn’t last as selling picked up.
