Markets Tumble As Inflation Numbers Spark Investor Fears

(New York, NY) — Yesterday’s dropoff on Wall Street seems minimal after today’s big nosedive. Inflation quickened at its fastest clip since 2008, according to numbers released Wednesday. The Consumer Price Index spiked 4.2 percent from a year ago, six-tenths of a percent higher than expected. The numbers led to many traders deciding it’s time to cash in. At the close, the Dow Jones Industrial Average dropped 681 points to 33-587. The S&P 500 lost 89 points to 40-63 and the Nasdaq fell 357 points to 13-031.

Not all is doom and gloom on the markets. Shares of NortonLifeLock have jumped almost 20-percent since Monday after the company beat expectations on their earnings report. They followed that news up with a double rating upgrade from Bank of America, with the firm forecasting a possible “renaissance” in consumer security technology in the coming years.