U.S. inflation (CPI) data for August came in hotter than expected on Tuesday morning and triggered a brutal sell-off in markets. Despite a slight decline in oil prices, overall inflation was higher than predicted. Core inflation between July and August rose by 0.6%, which was double expectations. The hot numbers mean that the U.S. Fed will very likely hike interest rates by 75 basis points next week. All 11 sectors of the S&P were red, led by energy, as the S&P closed -4.32%, the Nasdaq -5.16%, and the Dow -3.94% or down 1,276 to 31,104.<\/p>\n
With hardly any stock gaining, major movers were Apple<\/a> at -5.87%, Intel<\/a> -7.19%, Amazon<\/a> -7.06%, AMD<\/a> -8.99% and Meta<\/a> -9.37%. Even Bitcoin<\/a> slid, down 9.4% to $20,300. The U.S. 10-year yield climbed to 3.423%.<\/p>\n Losses in Toronto were moderate by comparison as the TSX slipped 1.71%. WTI modestly shed 0.25% to trade around $87.55. All sectors were also in the red, starting with consumer staples. Major movers here were Shopify<\/a> at -5.56%, the Bank of Nova Scotia<\/a> -2.17%, Canopy Growth<\/a> -8.08% and Lightspeed<\/a> at -8.01%. A rare gianer was Bausch Health<\/a>, up 2.75%.<\/p>\n 🍎 Apple (AAPL-Q)<\/a> -5.87% U.S. inflation (CPI) data for August came in hotter than expected on Tuesday morning and triggered a brutal sell-off in markets. Despite a slight decline in oil prices, overall inflation was higher than predicted. Core inflation between July and August […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-293411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/293411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=293411"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/293411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=293411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=293411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=293411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💾 Intel (INTC-Q)<\/a> -7.19%
\n📦 Amazon.com (AMZN-Q)<\/a> -7.06%
\n💾 Advanced Micro Devices (AMD-Q)<\/a> -8.99%
\n🕵️♂️ Meta Platforms, Inc. (META-Q)<\/a> -9.37%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -9.4%
\n🛍 Shopify Inc. (SHOP-T)<\/a> -5.56%
\n🏛 Bank of Nova Scotia (BNS-T)<\/a> -2.17%
\n🌿 Canopy Growth Corp. (WEED-T)<\/a> -8.08%
\n💾 Lightspeed Commerce Inc (LSPD-T)<\/a> -8.01%
\n👨⚕️ Bausch Health Companies Inc. (BHC-T)<\/a> +2.75%<\/p>\n","protected":false},"excerpt":{"rendered":"