S&P 500 falls more than 4%, on track for worst day of 2022
Written by Black Hot Fire Network on September 13, 2022
Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.
The Dow Jones Industrial Average slid 1,244 points, or 3.8%. The S&P 500 dropped about 4.2%, and the Nasdaq Composite sank 5%. It was the worst day of the year for all three averages. More than 490 stocks in the S&P 500 fell, with Facebook-parent Meta dropping 8% and Caesars Entertainment losing 7.3%.