Dow Jones Industrial Average Falls 400+ Points, S&P 500 and Nasdaq Sink Almost 1% on CPI Data
Dow Jones Industrial Average Falls 400+ Points, S&P 500 and Nasdaq Sink Almost 1% on CPI Data
By Jerry Kronenberg | Moomoo News
作者：杰里·克罗嫩伯格 | Moomoo 新闻
The $Dow Jones Industrial Average (.DJI.US)$ fell more than 400 points Wednesday, while the $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ sank nearly 1% after a stronger-than-expected March inflation report dampened hopes for Federal Reserve interest-rate cuts.
这个 $道琼斯指数 (.DJI.US)$ 周三下跌超过400点，而 $标普500指数 (.SPX.US)$ 和 $纳斯达克综合指数 (.IXIC.US)$ 在3月份强于预期的通胀报告抑制了美联储降息的希望之后，下跌了近1％。
The Dow shed 422.16 points (1.1%) to a 38,461.51 close, while S&P 500 gave up 49.27 ticks (1%) to 5,160.61 and the $Nasdaq Composite Index (.IXIC.US)$ dropped 136.28 points (0.9%) to 16,170.36.
道琼斯指数下跌422.16点（1.1％），收于38,461.51点，而标准普尔500指数下跌49.27点（1％），至5,160.61点，$纳斯达克综合指数 (.IXIC.US)$ 下跌136.28点（0.9％），至16,170.36点。
The broad indexes fell after the U.S. Labor Department reported before the bell that the March Consumer Price Index – which measures retail inflation – rose 3.5% year over year. That’s hotter than the 3.4% that economists Dow Jones surveyed had expected.
美国劳工部在盘前报告称，衡量零售通胀的3月消费者物价指数同比上涨3.5％，此后，整体指数下跌。这比道琼斯调查的经济学家预期的3.4％还要高。
Core CPI, which excluded volatile food and energy prices, likewise gained 3.8% year on year – exceeding the 3.7% consensus that analysts had forecast.
不包括波动的食品和能源价格的核心消费者价格指数同样同比上涨3.8％，超过了分析师预测的3.7％的共识。
The hotter readings cut back market hopes for reductions in the Fed’s benchmark Federal Funds rate.
较高的数据削弱了市场降低美联储基准联邦基金利率的希望。
Many market watchers had been hoping the Fed would cut rates early and often in 2024, but the CME FedWatch tool showed only a 16.4% probability as of Wednesday that the central bank will cut the Fed Funds rate at its June meeting.
许多市场观察家一直希望美联储在2024年尽早降息，而且经常在2024年降息，但CME FedWatch工具显示，截至周三，央行在6月会议上下调联邦基金利率的可能性仅为16.4％。
Meanwhile, Goldman Sachs analysts scaled back their projections of three quarter-point rate cuts this year to just two, while Barclay's now only expects one.
同时，高盛分析师将今年三次降息四分之一点的预测缩减至仅两次，而巴克莱现在只预期一次降息。
Falling interest rates historically help stocks by making bond and money-market yields less attractive to investors.
从历史上看，利率下降会降低债券和货币市场收益率对投资者的吸引力，从而帮助股票。
However, the higher inflation reading -- along with hawkish minutes released Wednesday from the FOMC's March meeting -- sent the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ rising 18.2 basis points to 4.548%.
但是，较高的通胀数据，以及联邦公开市场委员会周三公布的鹰派会议纪要，使通货膨胀率上升 $美国10年期国债收益率 (US10Y.BD)$ 上涨18.2个基点至4.548％。
Conversely, the prospect of “higher for longer” interest rates sent many stocks lower – particularly in the real-estate sector, which historically favors lower mortgage rates.
相反，“长期更高” 利率的前景使许多股票走低，尤其是房地产行业，该行业历来倾向于降低抵押贷款利率。
For example, mortgage firm $Rocket (RKT.US)$ shed 12.8% to $12.30, while home-selling platform $Opendoor Technologies (OPEN.US)$ sank 10.6% to $2.45.
例如，抵押贷款公司 $Rocket (RKT.US)$ 下跌12.8％，至12.30美元，而房屋销售平台 $Opendoor Technologies (OPEN.US)$ 下跌10.6％，至2.45美元。