Performance Food Group (PFGC) and US Foods Holdings have ended merger talks, creating a distribution giant. The companies mutually agreed to call off the deal, which would have rivaled top player Sysco (SYY). No potential combination will be pursued, as announced on Monday.

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– The stock market experienced a sharp decline today, with the Dow Jones Industrial Average dropping by 500 points due to concerns over economic growth and rising inflation.

– The Federal Reserve announced an interest rate hike of 0.25%, signaling a more aggressive approach to controlling inflation and potentially slowing down economic growth.

– Unemployment rates fell to 3.8% in the latest report, showing a strong job market and potential wage growth for workers in various industries.: Performance Food Group, US Foods Scrap Merger Talks