U.S. inflation hits 4.2% and stocks sell off on Iran escalation
The Dow fell 953 points and the Nasdaq slid nearly 2% as energy and rate fears hit stocks.
Fresh coverage on markets, the economy, and the forces moving money.
The Dow fell 953 points and the Nasdaq slid nearly 2% as energy and rate fears hit stocks.
43.7% of households said they were worse off financially than a year ago in the New York Fed survey.
Brent crude jumped 2.6% to $95.50 a barrel in Asia trading after Iran fired missiles at Israel.
Economists expect the ECB to raise its deposit rate by 0.25 percentage point on Thursday to 2.25%.