US Stocks Plunge as Amazon’s Gloomy Cloud Forecast & Stubborn Inflation Rattle Investors
U.S. stock indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented expectations for higher rates in the U.S. The Dow Jones Industrial Average dropped 70 points, or 0.2%, to 33,758. The S&P 500 was down 0.1%, while the Nasdaq Composite lost 0.3%. Amazon.com Inc. […]
St. Louis Fed President Bullard Warns of Entrenched Inflation Risks, Urges Proactive Monitoring and Policy Adjustments
St. Louis Federal Reserve President James Bullard has warned that inflation could become entrenched in the US economy, and requires careful monitoring. According to Bullard, interest rates are currently at the low end of a sufficiently restrictive range, but he insisted that efforts must be made to bring inflation back in line with targets. These […]