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Stock market today: S&P 500, Nasdaq slide after key Fed inflation gauge shows faltering progress

The article from Yahoo Finance discusses the recent performance of the U.S. stock market, particularly focusing on the S&P 500 and Nasdaq, which experienced declines following the release of a key Federal Reserve inflation gauge. The Personal Consumption Expenditures (PCE) price index, which is the Fed's preferred measure of inflation, showed that inflation is not cooling as quickly as anticipated, with a slight increase in the core PCE rate from 2.8% to 2.9% year-over-year. This data has led to concerns that the Federal Reserve might maintain higher interest rates for a longer period to combat inflation, negatively impacting stock valuations. The market's reaction was also influenced by other economic indicators and corporate earnings reports, with sectors like technology seeing significant drops due to their sensitivity to interest rate changes. Additionally, the article touches on broader market sentiment, with investors adjusting their expectations for future Fed actions and economic forecasts.

Read the Full YAHOO!Finance Article at [ https://finance.yahoo.com/news/live/stock-market-today-sp-500-nasdaq-slide-after-key-fed-inflation-gauge-shows-faltering-progress-151858913.html ]