"Inflation Data Sparks Stock Market Volatility: Live Updates and Investor Implications"

US stocks recovered from earlier losses after a hotter than expected December inflation reading, with the S&P 500 closing just under the flatline. Interest rate sensitive sectors lagged, while cryptocurrency-related stocks reversed gains on the first day of trading for spot bitcoin ETFs. Hertz put 20,000 EVs up for sale, causing its stock to fall, and oil prices surged amid Middle East tensions. Housing costs contributed to the inflation rise, and Microsoft briefly overtook Apple as the world's most valuable company. Despite the inflation print, investor bets on a Fed rate cut in March remained largely unchanged.