MARKETS futures down 200 points as evidence indicates inflation is higher than predicted.

Business

In April, the United States’ inflation rate soared to its highest level since the eve of the 2008 financial crisis, as last year’s drop in oil prices coincided with a gradual economic rebound to produce the kind of figure which many market observers had feared.

Per the government figures released on Wednesday, the consumer price index climbed 4.2 percent from a year earlier, well above consensus estimates of 3.6 percent.

Dow futures were down 200 points, S&P 500 futures were down 0.8 percent, and Nasdaq 100 futures were down 1.2 percent.

Biden DOW economy inflation

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