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Stock impact report

Stock market today: Stocks sink, yields jump after inflation data torpedoes rate-cut hopes [Yahoo! Finance]

Arch Capital Group Ltd. (ACGL) 
Last arch capital group ltd. earnings: 2/11 04:31 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The Dow Jones Industrial Average ( ^DJI ) fell about 1.1%, or almost 425 points. The S&P 500 ( ^GSPC ) dropped nearly 1%, and the tech-heavy Nasdaq Composite ( ^IXIC ) lost almost 0.9%. Meanwhile, bond yields soared. The 10-year Treasury yield ( ^TNX ) gained as much as 20 basis points on Wednesday afternoon, hitting nearly 4.57%, its highest level since November. The moves came after government data showed the Consumer Price Index (CPI) rose 0.4% over the previous month and 3.5% over the prior year in March, an unexpected acceleration from February's 3.2% annual gain in prices Both measures came in ahead of economist forecasts of a 0.3% month-over-month increase and a 3.4% annual increase, according to a survey by Bloomberg. The hotter-than-expected print could prompt investors to expect fewer rate cuts from the Fed this year. Indeed, according to the CME FedWatch tool , around 80% of bets are now on the Fed holding steady at current rate levels in June. More than half of in Show less Read more
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