US tech stocks just had their first 2-week losing streak of 2023
But it has shed 5% in August alone, with signs of inflationary stickiness and a sell-off in semiconductor stocks fueling losses in what's typicallyThe US Consumer Price Index, which gauges inflation by measuring the cost of the average American shopping basket, came in at aBut on Friday, the Producer Price Index — which measures the prices factories receive for their goods — offered investors some food for thought.
in July, according to the data from the Bureau of Labor Statistics, outpacing economists' expectations and signaling elevated inflation could carry on weighing on the US economy.
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