CNBC Daily Open: January's inflation reading was hotter than expected. Markets felt the heat
Publishing timestamp: 2023-02-26 18:26:17
Summary
Inflation is rising again, causing stocks to tumble and two-year Treasury yield to climb to a 16-year high. Warren Buffett's Berkshire Hathaway posted a 7.9% drop in operating profits in the fourth quarter, and the Federal Reserve's preferred inflation measure rose 0.6% in January. Markets reacted badly to the news, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all dropping. Despite the losses, some analysts think that markets are skimming off speculative froth, but underlying conditions remain turbulent.
Sentiment: MIXED
Tickers: BRK.A,
Keywords: inflation, federal reserve system, business news, markets, warren buffett, berkshire hathaway inc, federal reserve bank, interest rates, world markets,