"Inflation Data and Chip Stocks Drive Stock Market Slump"
TL;DR Summary
US stocks fell after a higher-than-expected wholesale inflation print, with the S&P 500, Dow Jones, and Nasdaq all declining. The reading could influence the Federal Reserve's upcoming policy meeting. Retail sales rebounded in February, while oil prices rose due to falling inventories and drone attacks on Russian refineries. Fisker's shares plunged after reports of exploring bankruptcy, and former Treasury Secretary Steven Mnuchin expressed interest in buying TikTok.
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