Wall Street tumbled Wednesday, as hotter-than-expected inflation data rattled markets and extended 2025's sideways trading. The Dow shed 225 points, but was off by over 400 points at its session lows. The S&P 500 posted a more modest decline while the Nasdaq finished flat, with losses stymied by strength in select mega-cap tech stocks. Elsewhere, the 10-year Treasury yield surged past 4.65%, reinforcing fears that the Federal Reserve may keep interest rates elevated longer than anticipated.
OIL, GOLD COOL OFF
Oil futures snapped a three-day winning streak, falling after U.S. data showed U.S. crude inventories rose for a third consecutive week. March-dated West Texas Intermediate (WTI) crude shed $1.95, or 2.7, to settle at $71.37 per barrel.
Gold prices moved higher Wednesday, but futures on the precious metal fell. The contract for February delivery last seen trading 0.2% lower at $2,927.30 an ounce.
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