Wall Street Falls Even As Data Shows Inflation Easing - NewsBreak

Wall Street closed sharply lower and European indices also fell despite closely watched US inflation data indicating the price surge seen in recent months may be easing. Traders have feared that rising inflation could force the Federal Reserve to pull back on stimulus measures that have helped equities post massive gains during the economic crisis caused by Covid-19, but Labor Department data released before US trading began on Tuesday showed price increases ebbed in August.