The Latest Breaking News on Stocks Tumble as Sticky US CPI Curbs the Outlook for Fed Rate Cuts

The dollar index (DXY00 ) this morning jumped to a 4-3/4 month high and is up +0.86%. The dollar raced higher today after the US March CPI report came in stronger than expected, boosting T-note yields and dampening the outlook for Fed rate cuts. Today’s slump in stocks has also...

The S&P 500 Index ($SPX ) (SPY ) this morning is down -1.01%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -1.20%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.00%. Stock indexes today are trading lower, with the S&P 500 falling to a...

June S&P 500 E-Mini futures (ESM24) are trending up +0.10% this morning as market participants refrained from making big bets ahead of the release of a crucial U.S. consumer inflation report and the Federal Reserve’s March policy meeting minutes.

The consumer price index "is the critical number this week", said NatAlliance Securities' Andrew Brenner.

Asian shares show mixed performance; U.S. stocks quiet. Markets await economic reports and inflation updates.

The ASX200 has finished 0.3 per cent higher, closing fewer than 50 points away from its record high in March.

Equities mostly rose in Asia on Wednesday following a tepid day on Wall Street, with investors lasering in on the release of crucial US inflation data that could have a huge bearing on the outlook for interest rates.