U.S. stock indexes fall on inflation, recession worries; Apple drops further

U.S. stock indexes fell in Thursday trading, with growth stocks including bellwether Apple leading declines as investors worried that aggressive interest rate increases to curb decades-high inflation could tip the economy into recession.

Inflation

Reuters:

Megacap stocks Meta Platforms, Microsoft Corp, Google-owner Alphabet Inc, Apple Inc, Amazon.com, and Tesla Inc slipped between 1% and 2.1% in premarket trading.

The tech-heavy Nasdaq index slumped over 3% on Wednesday, bringing year-to-date losses to 27.4%… The S&P 500 growth index has declined 25.6% so far this year…

Megan Henney for FOXBusiness:

The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 11% in April from the previous year. On a monthly basis, prices grew by 0.5%. Although that marks a slight moderation from March’s reading of 11.2%, the gauge still came in higher than the 10.7% forecast by Refinitiv economists, suggesting inflationary pressures remain strong.

Core inflation at the wholesale level, which excludes the more volatile measurements of food and energy, increased 0.6% for the month, following a 0.9% increase in March. Over the past 12 months, core prices were up 6.9%.

MacDailyNews Take: Can we be so bold as to hope for Apple’s share price to dip into sub-$140 territory? 🤞🏻

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10 Comments

    1. I’m really starting to believe that First Then (and his numerous aliases) are an MDN staff member. How else to explain his near-instant reply postings whenever anything remotely political is posted.

      1. You’re still trying to claim biden didn’t win fairly? People talk about how trump gets free rent, but apparently Biden is getting plenty of it too.

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