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Why Is the US Stock Market Down Today?
US stocks fell after the Fed projected just one rate cut in 2026 and hot PPI data showed wholesale inflation at 3.4% YoY, more than double expectations, deepening stagflation concerns.
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Energy was the only green sector as Brent crude held above $105 on Iran strikes.
Basic Materials led losses at -2.43% as gold and silver corrected sharply on dollar strength.
AbbVie dropped 4.67% after the FDA approved a competing psoriasis pill from J&J, while Nvidia held steady during the ongoing GTC conference in San Jose.
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