Economy
April CPI Inflation Hits 3.8% Annual Rate, Highest Since 2023: How Hot Inflation, Oil Spike Crashed The Chip Trade
April CPI hit 3.8% year over year, the hottest read since May 2023, with energy delivering 40% of the headline gain as Brent topped $107. The Nasdaq fell 1.9%, the Russell 2000 dropped 2.3%, and the PHLX Semiconductor Index posted its worst day in seven months. Fed June hold is now near-certain.
