New York CNN —US stocks tumbled Monday after fresh data stoked concerns about the economy’s health.
Investors have in recent weeks grappled with data that suggests inflation is continuing to run hot while the economy cools.
The Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, showed Friday that inflation stayed stubbornly high in March.
New gross domestic product data released last Thursday showed that the US economy expanded at a weaker pace earlier this year than initially reported.
Elsewhere, the New York Stock Exchange said Monday that a technical issue that halted trading for some stocks and caused Berkshire Hathaway shares to be down 99.97% has been resolved.
Persons:
Dow, ”, José Torres, cinched, Keith Lerner, Berkshire Hathaway
Organizations:
New, New York CNN, Nasdaq, Institute for Supply Management, Interactive Brokers, Federal Reserve, PCE, Commerce Department, Commerce, New York Stock Exchange, Berkshire
Locations:
New York