After the headline Consumer Price Index (CPI) rose 8.3% in August, down from 8.5% in July, the SPDR S&P 500 (NYSE: SPY) started trending lower, heading towards June's lows.
Tuesday marked the worst day of the year for the broader markets.
Market indices fell sharply after August CPI readings showed inflation came in hotter than expected.
The Labor Department on Tuesday reported an 8.3% year-over-year increase in the consumer price index for August, which sent the SPDR S&P 500 (NYSE: SPY) and the Invesco QQQ Trust (NASDAQ: QQQ) spiraling lower.
The SPDR S&P 500 (NYSE: SPY) is moving lower Tuesday morning after the Labor Department reported an 8.3% year-over-year increase in the consumer price index for August, another sign that inflation may have peaked in June.