Market Reacts to Inflation Spike

In an unexpected turn of events, the New York stock exchanges experienced a significant downturn this Wednesday. The catalyst? A recent report indicating that consumer inflation in the United States has surged to 3% at the beginning of the year, surpassing analysts' predictions.

Dow Jones Industrial Average Plummets

The Dow Jones Industrial Average wasn't spared, witnessing a dramatic fall of 442 points, or 0.96%. Similarly, the Nasdaq 100 and the S&P 500 weren't far behind, with losses of 1.04% and 0.97%, respectively.

Euro Takes a Hit Against the Dollar

Adding to the financial market's woes, the euro also saw a decline, dropping 0.35% against the dollar, trading at 1.03264.