U.S. stocks ended a four-day winning streak after the latest read on inflation came in higher than expected.
CME’s FedWatch shows a 32% chance the Fed will raise interest rates by 1% when it meets later this month. On Monday, FedWatch predicted a 0% chance of a 1% increase. The odds of a 75 basis point hike went to 69% from 91%.
The Dow Jones Industrial Average tumbled more than 1,200 points. The S&P 500 slid 4% for the worst day this year and the Nasdaq lost 5%.
Two-year Treasury yields rose to the highest since Thursday, November 1, 2007.... Read More: FOX Business