Dow Jones Leads Stock Market Sell-off amid Rising Inflation Figures

In terms of individual company performance on Wednesday, FAANG stock all closed with losses. The increasing inflation figures for April notably fueled a broad market sell-off, further adding to the pressures the stock market indices have been recording in recent times. The inflation situation spiked to a new high in the previous month with the Consumer Price Index (CPI) rising as high as 4.2%. This is the fastest inflation has risen since 2008.