Wall Street Plunges Due to Inflation and Erase 470 Billion $

Wind of panic and crash at the New York Stock Exchange. The day after the Federal Reserve (Fed) decision to keep its interest rates unchanged, the release of the latest ICP inflation index figures doused the markets. In a few minutes, more than 470 billion dollars of market capitalization disappeared at Wall Street. The trigger of this stock market drop at Wall Street is the release of official data on the ICP inflation index (PCE), the indicator most watched by the Fed to guide its monetary policy. This price shock comes in a tense context as the day before, the Fed announced the keeping of its interest rates unchanged . But the ICP inflation figures came out clearly above forecasts.

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