Stock market today: S&P 500 and NASDAQ 100 declined by 0.82% and 0.36% positively after Jerome Powell reveals updated inflation data

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As of 9:42 a.m. EST, the U.S. market started the trading day in negative territory after Federal Reserve Chair Jerome Powell revealed CPI data. The inflation rate in January jumped to 3.0% surpassing investor expectations, this indicates that Federal Reserve’s plans to keep the inflation rate below 2% remains a dream for now.

The S&P 500 fell to 6,018.96, after registering a loss of 0.82%. However, the tech-heavy NASDAQ 100 declined by 0.29% to 21,693.52, while the Dow Jones Industrial Average also slipped by 1.09% to 44,108.63.

The NASDAQ Composite Index also recorded a drop of 0.36%, closing in at 19,643.86.On the other hand, the NYSE Composite Index experienced a more significant dip, falling 0.97% to 19,972.54.

Disclaimer: This article is for informational purposes only and does not constitute any financial advice.