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Markets Resume Selloff Following Worse-Than-Expected CPI Report

By Henry Khederian

U.S. indices finished Wednesday's trading session lower. Markets were highly volatile following the April CPI report, which showed worse-than-expected inflation.

The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982.

Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain... Read More

  • The Nasdaq composite finished lower by 3.06% to 11,967; The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) lost 2.97% to $291.84
  • The S&P 500 traded lower by 1.65% to 3,935; The SPDR S&P 500 ETF Trust (NASDAQ:SPY) lost 1.58% to $392.77
  • The Dow Jones composite finished lower by 0.81% to 10,934; The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished lower by 1.05% at $318.46

Here are the day's winners and losers from the S&P 500, according to data from Benzinga Pro.

Electronic Arts Inc. (NASDAQ:EA), Baker Hughes Co (NASDAQ:BKR) and Duke Realty Corp (NYSE:DRE) were among the top gainers.

DISH Network Corp (NASDAQ:DISH), Enphase Energy Inc (NASDAQ:ENPH) and Tesla Inc (NASDAQ:TSLA) were among the top losers.

Elsewhere On The Street

After taking the market by storm in 2021, the growth of non-fungible tokens has faced some bumps in 2022. Ask those who cover the sector if the NFT market is dead or alive, and you may get some different answers... Read More

Terra and TerraUSD brought each other down in a cryptocurrency market catastrophe that would not be easy to forget... Read More

Dogecoin is crashing alongside the wider cryptocurrency market, down 21.7% at 9 cents at the time of writing. The meme coin is down about 88% from its all-time high of $0.7376 reached in May last year... Read More

Wayne Duggan contributed to this report.

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Dive Deeper:
Stock Market Dips On Higher-Than-Expected Inflation; Oil Prices Resume Climb
The stock market fell Wednesday on higher-than-expected inflation as rising oil prices fueled the inflation fire.
Markets Pare Intraday Losses, Still Finish Marginally Lower
U.S. indices traded lower Thursday as stocks experienced continued volatility amid concerns over rising interest rates and inflation.
Markets Finish Sharply Higher Amid Ongoing Macro Concerns
U.S. indices traded sharply higher Friday following recent weakness. Markets were highly volatile this week, selling off following the April CPI report,…
Markets Finish Mixed Following Brutal 3-Day Losing Streak
U.S. indices finished Tuesday’s trading session mixed. Markets have been volatile after the Federal Reserve last Wednesday announced it would…
One subscription that gives you access to news from hundreds of sites
Dow Jones Futures Rise On Hopes Inflation Fever Has Peaked As CPI Data Looms
Futures rise on hopes inflation has peaked with April CPI data due before the open. Two more big Ark holdings…
Stock Market Volatile After Hot Inflation Report, As Apple, Techs Lag
The stock market remained volatile after the latest inflation report came in higher than expected, but indexes were mainly higher…
Get all your news in one place