Inflation brings down Wall Street

Major US indices recorded heavy losses after the release of the March Consumer Price Index.

The Dow Jones index fell 1.09% to 38,461.51 points. The Standard & Poor's 500 index fell 0.95% to 5,160.64 points, and the Nasdaq index fell 0.84% ​​to 16,170.36 points. Despite the losses in the technology index, Nvidia recorded an increase of 1.92%.

Inflation was 3.5%, higher than expected, freezing the prospect of the Fed cutting interest rates in June. As a result, the bag fell.

Producer prices, which will be published on Thursday, will also provide more information on inflationary pressures, and likewise, a strong rebound from 1.6% to 2.3% is expected in the third month of the year.

In this context, the market's focus was also on the publication of the minutes of the latest FOMC meeting, which show that “almost all participants” in the Fed meeting consider it would be appropriate to start cutting interest rates throughout this year.

The minutes of the Fed's March meeting were published today, which were released on the same day as the US CPI data for March. That month, inflation rose by 0.4% to 3.5%, a figure higher than expected and representing the largest year-on-year increase since December, while core inflation remained stagnant at 3.8%.

Meanwhile, the price of a barrel in Texas rose 1.23%, to $86.32. Likewise, gold fell 0.54% to $2,359.