Market Volatility: Dow Jones Drops, Amazon Soars

The Dow Jones Industrial Average dropped 175 points ahead of the release of key inflation data, including the personal consumption expenditures (PCE) price index. Amazon's stock surged on strong earnings results. The PCE price index increased slightly cooler than expected, with an annual gain that matched estimates. The University of Michigan's consumer sentiment survey showed higher inflation expectations. Chipotle, Deckers Outdoor, Dexcom, and Intel were also key movers. The stock market experienced a correction, with the Dow Jones, S&P 500, and Nasdaq composite all declining. Tesla, Apple, and Microsoft stocks were also affected.