Market tanks over hot inflation report as Trump demands interest rate cut
Trump's first inflation report since beginning his second term shows prices have risen more than expected. Core inflation in January rose 3 percent from a year earlier, more than analysts predictions. Stocks took a hit in pre-market trading with the S&P 500 down more than one percent following the announcement. While some economists have warned that Trump's tariffs would fuel inflation, others pointed out that many businesses put through price rises at the start of the year.
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