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Middle East crisis live: Trump reportedly against further attacks on Iran's energy sites after Israeli strike on gas field The GuardianOil Prices: Why Crude Is Surging Toward $110 Today Barron'sFor Iranians, Bombing of Gas Field Worsens Already Dire Energy Crisis The New York TimesReported attack hits South Pars natural gas field, an energy lifeline for Iran AP News
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Fed Meeting Today: Stocks Fall After Powell Voices Inflation Worries — Live Updates WSJStock market today: Dow sinks 750 points, S&P 500, Nasdaq slide after Fed decision as Powell touts inflation worries Yahoo FinanceHeard on the Street Wednesday Recap: Higher for Longer? WSJUS stocks slump on worries about higher oil prices, inflation and interest rates AP News
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Why Global Energy Shock Could Leave China Stronger Than Ever Crude Oil Prices Today | OilPrice.comChina cannot escape the energy shock The EconomistThe Iran war is causing oil prices to soar - can China withstand it? BBCChina's Hormuz Problem Foreign Policy
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Dow tumbles more than 750 points to new closing low for 2026, fueled by inflation woes; Fed holds steady on rates CNBCDow slides nearly 800 points after Fed meeting amid oil inflation USA TodayStock market today: Dow, S&P 500, Nasdaq slide as Federal Reserve holds rates steady Yahoo FinanceFed Meeting Today: Stocks Fall After Powell Voices Inflation Worries — Live Updates WSJ
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The former head of Disney's theme parks division officially becomes CEO Wednesday, taking over from Bob Iger as the company's stock stalls.
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Stocks stabilized Wednesday after Tuesday's hotter-than-expected inflation data sparked Wall Street's worst selloff in over two years.
Inflation remained in focus today with the early morning release of the producer price index (PPI) for August. Similar to yesterday's consumer price index (CPI), the PPI - which measures what suppliers are charging for goods and services - rose at a slower annual clip in August than it did in July. However, on a month-over-month basis, both PPI and core PPI, which excludes energy and food prices, were up from July's figures.
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"There is a divergence in headline and core inflation building, where headline is cooling and core is heating up," says Jamie Cox, managing partner at Harris Financial Group. "That's an odd phenomenon and likely influenced by the shift from goods to services post-pandemic. The Fed should proceed with caution and not hit the emergency brake on rate hikes."
While yesterday's selling was broad-based, today's action was more mixed. In terms of sector performance, real estate (-1.2%) and materials (-1.2%) were the biggest laggards, while energy ( 2.8%) outperformed as U.S. crude futures rose 1.3% to settle at $88.48 per barrel.
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As for the major indexes, the Nasdaq Composite ended up 0.7% at 11,719, while the S&P 500 Index ( 0.3% at 3,946) and the Dow Jones Industrial Average ( 0.1% at 31,135) also finished with mode
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