Stocks open lower after inflation data
Stocks open lower after inflation data
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U.S. stocks opened lower on Friday as investors digested the latest inflation data from the Labor Department.

The S&P 500 recently lost 1.6%. The blue-chip industrial Dow fell 1.6%, while the tech-heavy Nasdaq Composite lost 1.7%. All 11 sectors of the S&P 500 were down at the open, down at least 1% across the board.

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Futures fell pre-market after new data showed inflation accelerated in May. Read our full summary of Friday’s market here.

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Investors awaiting Thursday morning’s inflation data dragged the index lower in the final hour of the session after a relatively modest decline in the index. The S&P 500 closed down 2.4%. The Dow fell 1.9% and the Nasdaq lost 2.7%. All three indexes are poised to end the week lower.

Meanwhile, the 10-year government bond yield rose to 3.041% on Thursday from 3.028% on Wednesday. Yields and bond prices move in opposite directions. The yield was finally 3.088%.

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Jake Smith

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Jake Smith

He is the editor of Eragoncred. Previously, he was editor-in-chief of Eragoncred and a financial industry reporter. Jake has spent most of his career as a Digital Media journalist and has over 10 years of experience as a writer and editor.