US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation.
The Dow (INDU) sank 750 points, or 2.4%, and the Nasdaq fell 3.7%.
Friday’s miserable Consumer Price Index report showed US inflation was significantly higher than economists had expected last month, which could make the Federal Reserve’s inflation-control efforts more difficult.
Read more at CNN.com
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