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The S&P 500 fell 1.36% on Wednesday to close at 6,624.70 after a hotter-than-expected PPI report, and Federal Reserve Chair Jerome Powell‘s cautious inflation comments stoked fears that the U.S. economy is heading toward stagflation — lower growth and higher prices simultaneously.
The Polygon-based (CRYPTO: POL) Polymarket crowd is bearish heading into Thursday. The “S&P 500 Opens Up or Down on March 19?” market sits at 55% “Down,” 45% “Up,” with over $54,000 in early traded volume.
Why That Number Matters
The inflation picture deteriorated sharply on Wednesday. February PPI came in at 0.7% — more than double the 0.3% consensus — before energy prices from the Iran …
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