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Wall Street indices declined on Wednesday after better-than-expected US inflation data raised fears of a Fed monetary tightening. According to the US Department of Labor, in April, consumer prices rose at their most in almost 12 years due to increased demand amid the opening of the economy. Excluding food and energy prices, consumer prices rose 0.9%, the highest since April 1982. As a result, market participants expect a 0.25 percentage point rate hike by the end of 2022 after such a strong acceleration of inflation in April. Uncertainty around the dynamics of rates and inflation is forcing investors to revise their portfolios, especially in technology stocks. As a result, the Dow Jones index fell by 0.93% to 33.950.66 points, the S&P 500 index – by 1.20% to 4.102.33 points, and the Nasdaq – by 1.91% to 13.133.86 points.
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