Wall Street

Stock Market Today – 6/13: Stocks Plunge As White Hot Inflation Stokes Recession Fears; Bitcoin Crashes

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The Street

By Martin Baccardax The Federal Reserve may have to choose between taming inflation and risking recession following last week’s faster-than-expected May CPI reading. U.S. equity futures plunged lower Monday, while Treasury bond yields surged to the point where short-term rates signaled recession fears, as investors bet on faster and deeper rate hikes from the Federal Reserve following last week’s hotter-than-expected inflation data. U.S. consumer prices rose by the fastest annual pace in more than four decades last month, the Commerce Department said, thanks in part to soaring energy and food …

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