Inflation Report Steadies Rate Cut Bets, Stirs Tariff Concerns
Wall Street's major indexes fell as an in-line inflation report solidified expectations of a September rate cut, while sparking worries about tariffs affecting prices. The Dow Jones, S&P 500, and Nasdaq Composite all opened lower, reflecting ongoing market uncertainties.
Wall Street's leading stock indexes opened lower on Friday, following an inflation report meeting expectations. This reinforced predictions of a possible September interest rate cut but heightened apprehensions over the impact of tariffs on prices.
At the opening bell, the Dow Jones Industrial Average dropped by 45.9 points, translating to a 0.10% decline, settling at 45,590.96 points.
The S&P 500 fell by 12.6 points, or 0.19%, to reach 6,489.28, and the Nasdaq Composite decreased by 74.8 points, or 0.34%, marking its position at 21,630.326 points.
(With inputs from agencies.)
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