"Inflation Data Sinks Stocks and Sparks Rate-Cut Concerns"

US consumer prices rose more than expected in March, leading economists to believe that rate cuts are now unlikely in the near future. The Consumer Price Index (CPI) increased by 0.4% over the previous month and 3.5% over the prior year, surpassing economist forecasts. This has led investors to anticipate fewer rate cuts this year, with markets now expecting the first cut to come in September. The Federal Reserve is now seen as likely to hold rates steady at its June and July meetings, with the possibility of a cut in September.