As recent statistics revealed that prices surged in January
raising concerns about interest rates, U.S. equities began to decline.
The personal consumption expenditure index
a crucial inflation indicator monitored by the Federal Reserve
increased by 0.6% in January, outpacing the 0.2% increase in December.
PCE increased by 5.4% annually in January compared to a 5.3% increase in December.
When gasoline and food are excluded, core costs increased 0.6%