Dow drops roughly 1,300 points after disappointing inflation numbers

Economists had predicted a 0.1% decline in overall inflation and for prices to increase at an 8.1% annualized rate.

Updated: September 13, 2022 - 4:55pm

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The Dow Jones Industrial Average dropped almost 1,300 points on Monday after the release of disappointing inflation numbers.

The metric dropped 1,276 points for a 3.94% decline overall, according to Market Watch, marking the largest single-day decline since June 2020.

The Nasdaq Composite Index meanwhile dropped 632.84 points, marking an even greater 5.16% decline.

The news follows a report from the U.S. Bureau of Labor Statistics showing that headline inflation rose 0.1% over last month while core inflation rose 0.6%. Inflation was 8.3% year over year.

Economists had predicted a 0.1% decline in overall inflation and for prices to increase at an 8.1% annualized rate.

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