US stocks slide as investors eye inflation data and assess Fed policy path

AP Photo/Richard Drew

The S&P 500 is on track for its fifth straight decline as investors position themselves for the Federal Reserve to raise interest rates to combat the hottest inflationary environment in 40 years.
Tech stocks were hurt as bond yields continued to climb and the 10-year yield reached its highest since the COVID crisis emerged.
The US central bank is expected to raise interest rates by four times this year, according to Goldman.
The US indexes stood at 9:30 a.m. on Monday.

The consumer price inflation report on Wednesday will likely reinforce the Fed's goal of beginning to raise interest rates for the first time since the start of the epidemic. In December, the inflation rate was 6.8%, the highest since 1982.

The price of oil fell. The price of West Texas Intermediate crude fell. The international benchmark of crude oil, known as Brent, fell.

The price of gold decreased to $1,793 per ounce. The yield increased by 2 basis points.
The price of the digital currency fell to $40,759.14.

Business Insider has an original article.