US: Stocks sink with all eyes on consumer price data

WITH all eyes on back-to-back inflation data coming this week, Wall Street stocks tumbled again on Tuesday as earnings warnings tanked tech shares.

Investors may have been taking advantage of a recent upswing in share prices to cash out before the government reports on July consumer prices on Wednesday, followed by producer prices on Thursday.

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While the data are expected to show monthly inflation slowing from June, the annual pace is likely to remain near 40-year highs.

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There is a real concern about what numbers we can get on the inflation tomorrow, Thursday and even Friday with the consumer sentiment numbers

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There are a lot of things to look at between now and the end of the week and a lot of profit has been made over the past couple of weeks so I think there is a bit of profit taking going on

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The Dow Jones Industrial lost 0.2 per cent to end the day at 32,774.41, while the broad-based S&P 500 fell 0.4 per cent to 4,122.47.

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