From Investing.com: 2024-04-10 18:10:45

U.S. stocks ended lower on Wednesday as hotter-than-expected inflation data dashed hopes for an early interest rate cut by the Federal Reserve. The CPI report revealed inflation staying above the 2% target, causing concerns. Benchmark Treasury yields hit their highest level since November, leading to a sell-off in interest rate-sensitive stocks. Real estate and housing stocks saw significant declines, while the S&P 500 closed in the red. Investors are now eyeing the producer prices report and the upcoming earnings season. Megacap growth stocks mostly slipped, except for Nvidia, which rose. Shares of Alibaba gained after a supportive memo from Jack Ma.



Read more at Investing.com: Wall St ends sharply lower as sticky inflation dims rate cut hopes By Reuters