Inflation was up, sending stocks down
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 10 April 2024
⏱️ 1 minutes
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Summary
The annual rate of CPI inflation ticked up in March; Accounting giant KPMG fined $25 million in exam-cheating scandal; Trump Organization’s former CFO gets 5 months jail sentence for perjury.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Mitchell Hartman. Stocks were lower across the board on Wednesday. |
| 0:07.4 | The Dow fell just over 1%. The S&P gave up just under 1%, and the NASDAQ was off more than 8 tenths percent. |
| 0:15.8 | The consumer price index rose more than economists were expecting in March with annual |
| 0:20.4 | inflation climbing to 3.5%. The uptick spooked investors who've been |
| 0:25.4 | anticipating the Fed will start cutting rates later this year. Alan Weisselburg |
| 0:30.8 | the 76-year-old former financial chief of the Trump Organization, has been sentenced |
| 0:36.0 | to five months at Rikers Island Jail in New York for perjury. |
| 0:40.0 | The charges relate to a civil fraud investigation of the Trump organization for inflating assets. |
| 0:46.7 | Global accounting firm KPMG will pay 25 million in fines for exam cheating uncovered in its Netherlands operation. |
| 0:55.0 | It's the biggest penalty ever from the public company at County Oversight Board. |
| 1:00.0 | I'm Mitchell Hartman with the Marketplace Minute. |
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