US stocks slide as hot inflation weighs on risk appetite
Wall Street retreated Wednesday as hot inflation data, mixed earnings and rising oil prices dampened investor risk appetite. All three major US stock indexes closed lower; the chip index fell 4.3%, dragging the Nasdaq lower.
Wall Street fell on Wednesday as hotter-than-expected inflation data, mixed earnings and rising oil prices dampened investors’ appetite for risk. S. stock indexes ended lower. 3% drop in the Philadelphia Semiconductor Index (NASDAQ:SOX).