Dow Rises, S&P 500 and Nasdaq Slip on Hot Inflation
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- Dow Jones Industrial Average rose as investors shifted to defensive stocks after the inflation print.
- S&P 500 retreated from its record‑high level following the hotter‑than‑expected inflation data.
- Nasdaq fell, halting its recent gains amid the tech sector sell‑off.
- Tech stocks sold off sharply in response to the inflation jump, dragging the Nasdaq lower.
- Inflation printed hotter than analysts expected, reigniting concerns over future rate hikes.
Why it matters: Tech investors lose as the sector sells off; defensive investors win as the Dow climbs; the retreat of the S&P 500 from record highs and Nasdaq’s 12‑day streak could tighten equity valuations and pressure corporate earnings.
