Stocks Tank After Latest Inflation Data: Here's What Got Hit The Hardest

Markets traded lower during Friday’s pre-market session following the Bureau of Economic Analysis report on a 5.4% increase in the personal consumption expenditures (PCE) price index for the month of January.

By The Numbers: The PCE rose to 5.4% in January year-over-year, up from 5.3% in December. Despite economist estimates of 4.9%, the PCE reading for January surpassed expectations. Read more...

Core PCE, which is the preferred inflation measure for the Federal Reserve and excludes volatile food and energy prices, rose to 4.7% in January, exceeding economist estimates of 4.3%.

As the Fed prepares for its March meeting, it is likely that the PCE data will be under close observation. The bond market is anticipating a 76% likelihood that the Fed will raise interest rates by 0.25% next month, setting its fed funds target range to between 4.75% and 5%.

What stocks got hit the most on Friday’s news?

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