CNBC Daily Open: Inflation in January was hotter than expected. Markets felt the heat
Publishing timestamp: 2023-02-27 01:15:45
Summary
Inflation is rising again, causing U.S. stocks to tumble and Asia-Pacific markets to trade lower. Warren Buffett's Berkshire Hathaway posted a 7.9% drop in operating profits in the fourth quarter. The S&P has gained 9% since September, but some investors think the market has gone too far. The Federal Reserve's preferred inflation measure rose 0.6% in January, and the two-year Treasury yield climbed to a 16-year high of 4.814%. Major U.S. indexes fell at least 1%, and it was the worst week for the S&P, Dow, and Nasdaq this year. Some investors think the losses are skimming off speculative froth, but others think markets will remain choppy until higher rates cool consumer spending.
Sentiment: MIXED
Keywords: inflation, federal reserve system, south korea, business news, china, markets, china renaissance holdings ltd, united states, warren buffett, berkshire hathaway inc, world markets, interest rates, federal reserve bank,
Source: https://www.cnbc.com/2023/02/27/stock-markets-inflation-in-january-was-hotter-than-expected.html