Dow plummets 638 points as investors await key inflation report – By Daniel Uria (UPI) / June 9, 2022
June 9 (UPI) — U.S. markets declined for the second consecutive session Thursday as fear about the strength of the economy among investors persisted ahead of a key inflation report.
The Dow Jones Industrial Average fell 638.11 points, or 1.94%, while the S&P 500 dropped 2.38% and the Nasdaq Composite ended the day with a 2.75% decline.
Investors are looking ahead to the Bureau of Labor Statistics’ May Consumer Price Index to be released Friday, which is expected to show that headline inflation rose by 8.3% in the past month.
Investors also have been attempting to assess the state of the economy, as the Federal Reserve is set to hold its next policy meeting next week and expected to hike interest rates again to combat inflation.
