U.S. stocks slid Wednesday as investors fretted over inflation as they awaited word on President Biden's pick to head the Federal Reserve.
More big money investors say inflation is "transitory."
U.S. homebuilding unexpectedly slowed in October as builders continued to struggle with higher costs and supply shortages.
U.S. stocks rallied to just shy of record highs Tuesday as traders celebrated a jump in retail sales a day after President Biden signed the $1.2 trillion bipartisan infrastructure bill.
Homebuilder confidence rose in November as low inventories and strong buyer demand helped boost confidence despite ongoing supply chain disruptions.
Consumer spending accelerated in October as shoppers kicked off the holiday shopping season earlier than usual due to the supply chain bottlenecks.
U.S. stock indexes slipped Monday as President Biden prepared to sign the $1.2 trillion infrastructure bill into law.
Tyson Foods Inc. is planning further price increases to offset soaring costs.
Soaring inflation is going to get worse and will have dire consequences for the U.S. economy, according to one economist.