The new date is Sep 13, 2022.

The August inflation report showed higher consumer prices than expected and investors are worried that the Federal Reserve will raise interest rates even higher.

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The New York Stock Exchange has traders working on it.

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The S&P 500 fell more than 3% and the bond prices fell as well.

The losses, which wiped out a large portion of recent stock gains, came after data released by the Labor Department showed consumer prices rose 8.3% in the 12 months ending in August.

The August increase showed that price increases slowed down for the second month in a row, but still marked a small increase in overall prices after economists predicted a small drop.

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Inflation reached a four-decade high of 8.5% in July and 9.1% in June, leading the Federal Reserve to hike interest rates even more. Core inflation, which does not include volatile food and energy prices, increased 0.6% on a monthly basis in August, twice as much as economists predicted, though gas prices fell from record highs. Fed officials have said recently that the central bank will keep raising interest rates until they see a decline in inflation. August's inflation report is the last one the Fed will see before a September 20-21 meeting where the central bank is expected to raise interest rates. The consumer price data could cause the central bank to keep hiking rates.

Inflation went up in August, but it slowed for the second month in a row as gas prices fell.

The stock sell-off got worse after the inflation report.