The US500 plunged after the CPI data, fulfilling expectations of a reversal

We called it right. The market went down after the CPI news came out (as expected). The main index, the S&P 500 (#SPX500), dropped over 1%, closing at 5584 compared to a high of 5654 earlier. The Nasdaq (#Nasdaq) also fell, closing at 20,217 after hitting a high of 20,760.

S&P Index Cash and Nasdaq 100 witnessed correction after the CPI announcement as per advance forecast on RajeevPrakash.com. Indices correct by 1-2% from the 52-week high which was made around CPI announcement.

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