Stocks fell on concern that inflation could pose a challenge to the economic rebound, forcing central banks to raise interest rates sooner than expected.
Traders took a more cautious approach on Wednesday as data showed new U.S. home construction unexpectedly slowed down, suggesting builders are struggling to break ground on projects amid high materials prices and ongoing labor shortages. Target Corp. slipped after warning that cost pressures are creeping up, stoking fears that inflation will dent profits at big retailers. Meantime, home-improvement giant Lowe’s Cos. raised its sales forecast for this year and reported stronger-than-expected revenue.
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November 17, 2021 at 05:21AM
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Stock Market Today: Dow, S&P Live Updates for Nov. 17, 2021 - Bloomberg
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