Wall Street Closes Lower After Inflation Surge

The New York Stock Exchange (NYSE) closed lower on Tuesday, after logging new record highs yesterday, as Wall Street investors responded to the huge surge in inflation.

June’s reading of the Consumer Price Index (CPI) showed a 5.2% surge, exceeding market expectations.

The Dow Jones Industrial Average declined by 0.31% and closed at 34,888.79 points.

The S&P 500 lost 0.35% to finish at 4,369.2 points, while the Nasdaq Composite lost 0.38% to settle at 14,677.65 points.