Wall Street is looking at the damage of inflation.. Dow Jones loses 865 points

Stocks started today’s session with a violent fall and selling following the release of the inflation index higher than expected.

The Nasdaq fell by nearly 4%, losing 488.4 points, while the Dow Jones lost 865.24 points, declining by 2.67%, and the S&P 500 lost 125.5 points, losing 3.05% of its value.

Inflation data for August showed a monthly increase of 0.1% compared to July prices, despite the fall in fuel prices. On an annual basis, inflation rose by 8.3%, compared to experts’ expectations that it would rise by 8.1%.

This is the last inflation report before the Fed meeting next week, and expectations are now focused on raising interest rates by 75 basis points, as happened in the July and June meetings.

In the event that the interest numbers were equal to or less than expectations, this would have been a reason for the Fed to raise interest rates less violently. However, these negative data make the Fed focused on the need to confront inflation in a way that raises the risk of the economy entering a complete recession.

Shares of Oracle (NYSE: ORCL) rose 2.4% following achieving profits, which were equal to expectations, up 18% from a year ago, while Twitter shares fell 1.3% following a person prepared to report violations and testify before the Senate regarding allegations of security holes. In a social media company.

Oil rose as WTI Crude Oil futures rose 0.3%, to $88.08, and Brent crude oil futures settled at $93.95. Gold futures were down 1.2% at $1,719 an ounce.