U.S. stocks︱U.S. inflation beat expectations, Dow tumbled more than 1,200 points, worst performance in more than two years

The U.S. Labor Statistics announced on September 13 that the consumer price index (CPI) data for August rose by 8.3% year-on-year, higher than the market period of 8.1%, but still lower than the previous month's 8.5%; excluding energy and food prices , the core CPI rose 0.6% month-on-month and 6.3% year-on-year, also higher than expected.

Investors worry that the Federal Reserve will continue to raise interest rates hawkishly, and the three major U.S. stock indexes fell across the board, recording their worst trading day since June 2020.

In terms of U.S. stock performance, the Dow closed at 31,104.97 points, down 1276 points, or 3.94%; the S&P 500 closed at 3932.69 points, down 177.72 points, or 4.32%, below the 50 and 100-day moving averages; the Nasdaq fell 632.84 points to 11633.57 point, down 5.16%.

In the S&P 500, more than 490 constituent stocks closed with losses, and many technology stocks "blooded into a river". Facebook's parent company Meta fell 9.4%; Apple and Microsoft recorded their largest one-day declines since September 2020. They closed down 5.87% and 5.5% respectively. In addition, chip giant Nvidia also fell by nearly 9.5%, the worst since March 2021.

This drop in the market has almost wiped out the recent gains, approaching the closing price of 3,608 on September 6, and some traders are worried that the S&P 500 may fall to a low of 3,700 in mid-June.