Selling Pressure reappeared last week as the hope of having reached a peak inflation level was suddenly shattered. On Tuesday, the Consumer Price Index was widely expected to reflect a month-over-month decline of -0.1%. However, when the report hit the streets, the August reading saw a 0.1% increase. As a result, the year-over-year figure came in much higher than the 8.0% analysts expected with the headline 8.3%. Moreover, the Core CPI, a reading that excludes food and energy prices, was anticipated to come in at 0.3%. Instead, the month-over-month change came back double estimates with an August increase of 0.6%. This news weighed heavily on the markets. The week opened with a solid gain on Monday as it continued the recovery from the tale end of last week. But Tuesday’s post CPI report loss exceeded 4%. This marked the largest daily drop since June of 2020. While Wednesday managed to close positive, the bounce was short-lived as both Thursday and Friday closed 1.13% and 0.72% lower respectively. By the end of the week, the Major Markets all ended deeply lower with the NASDAQ posting a nearly 5.5% loss. At Leap Wealth, we are here to help you manage through the economic and political noise to stay on track. Contact us today to learn more.