Wall Street dip due to inflation

Wall Street worries about rising inflation and corporate financial results

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US stocks plunged on Wednesday as worries about economic growth and rising inflation rocked the stock market, following a sharp 9% rise in consumer prices in Britain and a sharp rise in prices in Canada. than expected.

British inflation rose to its highest level since 1982 as energy bills soared, while inflation in Canada rose to 6,8% last month, mainly due to rising food and accommodation prices, according to Statistics. Service of Canada.

British inflation is now the highest among major economies, but prices are rising rapidly around the world, forcing central banks to raise interest rates despite the potential impact on growth, as evidenced by the decline in US housing construction in April.

On Wall Street, the Dow Jones fell 2,56% or 835 points to 31.819 points, the S&P 500 fell 3,11% or 128 points to 3.960 points and the Nasdaq plunged 3,77% or 451 units, at 11.533.

To the gloomy picture caused by rising inflation was added on Wednesday the financial results of Target Corp, whose quarterly profits fell by 50% as the company was hit by rising fuel and fare costs.

The company's shares are plunging 24% on Wall Street after Walmart Inc. warned that it would show a similar picture.