By Johann M Cherian, Ankika Biswas and Carolina Mandl (Reuters) -Wall Street’s main indexes tumbled on Tuesday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher. The Dow Jones Industrial Average posted its biggest one-day percentage drop in nearly 11 months, after a Labor…
By Niket Nishant (Reuters) -New York Community Bancorp shares fell nearly 4% after inflation data on Tuesday on investor worries that delays to interest-rate cuts could worsen the bank’s woes from its exposure to stressed U.S. commercial real estate (CRE) sector. Consumer price index (CPI) increased 0.3% in January compared to the 0.2% that economists…
By Georgina McCartney Houston (Reuters) -Oil prices settled higher on Tuesday as geopolitical tensions continued in the Middle East and eastern Europe, but gains were curtailed as investors reined in expectations for the U.S. Federal Reserve interest rate cuts. Brent futures settled 77 cents higher or 0.94% at $82.77 a barrel at 2:30 p.m. EST…
