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Jump In US Inflation Weighs On Stocks, Lifts Dollar 07/13/21 AT 6:18 PM Wall Street stocks retreated from records Tuesday while the dollar rallied after data showed the biggest jump in US inflation in more than a decade. The consumer price index (CPI) spiked 5.4 percent in the 12 months ended in June, not seasonally adjusted, the highest rate since August 2008, the Labor Department said. After major European bourses finished unchanged, all three main US indices pulled back from records, with the Dow shedding 0.3 percent. While it s easy to explain away a lot of the pieces that made that print, it s certainly added some concern to the broader market in general that perhaps inflation will be less transitory than we thought, Art Hogan of National Securities said.

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