Consumer companies slid as consumer inflation rose, spurring fears about interest rates and long-term price stability.
The U.S. consumer price index rose 4.2% in May, as the surge in fuel prices associated with the Iran war rippled through the economy. The easing of tariff pressures appears to have caused core goods prices to slip in May, said economists at brokerage Bank of America Global Research, in a note to clients. "We think we could see renewed core goods inflation in the second half of 2026 due to the Iran war and the emerging supply constraints."
In a bad sign for discretionary spending, pet-supplies firm Chewy cut its sales projection for the year.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-10-26 1703ET
