Dow Plunges 876 Points
The Dow Jones Industrial Average fell 876 points today, as investors digested a bad inflation report from Friday and then turned their attention to the Federal Reserve's June meeting, which starts tomorrow. Meanwhile, the S&P 500 fell nearly 3.9% today and finished in bear-market territory, down close to 22% this year.
The issue at hand started Friday when investors were caught off guard by an inflation reading that was worse than expected. The Consumer Price Index (CPI), which tracks a basket of daily goods and services and is one data point investors use to measure inflation, was up 8.6% year over year as of May. Economists had only expected the CPI to come in 8.3% higher, which stoked fears that inflation may not have peaked and could even still be getting worse.
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Source Fool.com
