Why Is the Stock Market Down Today, 5/12/26?
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Both the S&P 500 and Nasdaq 100 are down as investors react to a higher-than-expected inflation report. The Consumer Price Index rose 3.8% year-over-year in April, surpassing estimates and indicating weaker consumer purchasing power. Core CPI also exceeded expectations, leading to increased odds of a rate hike, with the likelihood of a rate cut by year-end dropping significantly. Gas prices contributed notably to the CPI increase, highlighting broader inflationary pressures in the economy.
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