Stocks plunge after surprise August inflation bump

The Hill ^ | 09/13/2022 | SYLVAN LANE

[ChicagoConservative27]

An unexpected inflation jump in August set stocks plunging Tuesday as Wall Street braced for steeper Federal Reserve rate hikes and a potential economic slowdown.

The Dow Jones Industrial Average was down 2.8 percent shortly after 2 p.m. Tuesday, a decline of more than 900 points, after the Labor Department released a surprisingly hot consumer price index (CPI) report earlier in the day.

The S&P 500 was down 3.1 percent and the Nasdaq composite was down 3.9 percent on the day.

Markets began selling off after the Labor Department reported a 0.1 percent increase in the consumer price index (CPI), a closely watched gauge of inflation, in August.

[ExSES]

It always is "Unexpected" when reporting bad news! Journalism 101!

[butlerweave]

The dems will write up a few more inflation bills ?

[existentially_kuffer]

Explain away.. typical excuse “unexpected”.

[butlerweave]

Time to FIRE John Podesta

[Nifster]

Surprise to whom?

[ProtectOurFreedom]

Yeah, a real big “surprise,” huh?

[mware]

DOW Down by 1050 point and falling

[ProtectOurFreedom]

Cue the “Imagine how bad it would have been if we had’t passed the ‘Inflation Reduction Act’” democrat liars.

[TexasFreeper2009]

surprise? EXPECTED!

always expect liberal policies to FAIL! always!

[Joe Brower]

"An unexpected inflation jump in August"

[Tipllub]

“If only the Republicans hadn’t delayed the passage of the Inflation Reduction Act” will be tomorrow’s headline.

[1Old Pro]

3:00 PM ET
President Biden Hosts an Event Celebrating the Passage of the Inflation Reduction Act. https://www.whitehouse.gov/live/

Market getting crushed and Biden celebrates.

[mware]

Biden is having some party at WH in a few minutes. Reports are he is going to blame Republicans for problems.

[aMorePerfectUnion]

Still holding coal, uranium, shipping positions

[griswold3]

“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grams a week. And only yesterday […] it had been announced that the ration was to be reduced to twenty grams a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. “
Yes, they swallowed it.

[Joe Brower]

"Market getting crushed and Biden celebrates."

'The worse, the better", to quote comrade Lenin.

[mware]

Down 1050

[mewzilla]

Get a load of this howler...

https://www.cnbc.com/2022/09/13/investing-club-dont-get-caught-up-selling-in-tuesdays-inflation-report-overreaction-heres-why.html

🤣🤣🤣🤣

[BradtotheBone]

[roadcat]

Is aspirin still affordable? We’ll be using what’s left of our 401K to buy some.