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Stocks Decline Amid Deteriorating Consumer Sentiment and Rising Inflation Expectations
Stocks Decline Amid Deteriorating Consumer Sentiment and Rising Inflation Expectations
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BTCCSquare news:
Equity markets faced significant pressure as the University of Michigan's Consumer Sentiment Index fell to 55.9 in August, down from 57.7 in July and below economists' expectations. The broad-based decline reflects growing economic pessimism across all demographic groups.
Inflation concerns resurfaced as year-ahead expectations jumped to 4.8%, reversing two months of declines. Long-term inflation projections also edged higher to 3.5%, coinciding with Core PCE reaching its highest level since February at 2.9% annually.
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) both suffered steep losses following the data release, signaling investor anxiety about persistent price pressures and weakening consumption.
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