Market Turmoil as US Inflation Climbs

In a startling turn of events, the Dow Jones Industrial Average took a significant hit, dropping 442 points, or 0.96%, following the release of January's inflation data. The figures revealed a 3% rise in consumer inflation, surpassing analysts' expectations and sending shockwaves through the New York City stock exchanges.

Tech and Broader Market Impact

The ripple effects were felt across the board with the Nasdaq 100 and the S&P 500 not spared, experiencing declines of 1.04% and 0.97% respectively. This downturn underscores the market's sensitivity to inflationary pressures and the potential for further volatility.

Currency Fluctuations

Amidst the market's upheaval, the euro also felt the pressure, depreciating by 0.35% against the US dollar, trading at 1.03264. This movement highlights the interconnectedness of global financial markets and the far-reaching implications of US economic indicators.