Dow Jones futures were higher following Monday's stock market plunge. Another pivotal inflation report is due out Tuesday. Read More...
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Dow Plunges 876 Points
The Dow Jones Industrial Average fell 876 points today, as investors digested a bad inflation report from Friday and then turned their attention to the Federal Reserve’s June meeting, which starts tomorrow. The issue at hand started Friday when investors were caught off guard by an inflation reading that was worse than expected. The Consumer Price Index (CPI), which tracks a basket of daily goods and services and is one data point investors use to measure inflation, was up 8.6% year over year as of May. Economists had only expected the CPI to come in 8.3% higher, which stoked fears that inflation may not have peaked and could even still be getting worse.
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