Wall Street opened sour this morning, as the latest consumer price data sent shockwaves into financial markets. Amidst the backdrop of surging more than expected in March, hopes were dampened for an early monetary easing cycle by the Federal Reserve.
The Dow Jones shed, 221.39 points down, opened at 38,662.28, which means a decline of 0.57%. Further slides hit the S&P 500 as it opened at 5,167.88 by 42.03 points, or down 0.81%, and the Nasdaq Composite fell 1.24% or 202.63 points to start off at an opening value of 16,104.01.
Surprise consumer inflation, however, has emerged after last week's jobs gains made expectations point high, which investors scrutinize quite carefully. That puts a high focus on inflation pressures at potentially persuasive monetary policy by the FED. This underlined yet another fragile balance between an economic recovery and the needs it generated, demanding action on containing inflation shaping in its course the financial markets that started emerging this week.
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