STOCK EXCHANGE: Wall Street in sharp decline – Steady inflation overshadows stock market

Wall Street opened Tuesday trading in clear decline following the US inflation announcement. In particular, persistent core inflation, stripped of the effects of energy and food prices, was disappointing. Core inflation remains high, giving the central bank the basis to keep key interest rates unchanged in the 5.25-5.50 percent range.

High residual interest rates are bad news for the stock market, as higher interest rates raise the yield requirements of stocks.

The Dow Jones of major companies and the broader S&P 500 were down 1.4 percent a moment earlier, and the tech-focused Nasdaq's decline reached 1.7 percent.

A soft drink company Coca Cola Announced last year's financial statements and October-December results. The company's sales in the last quarter of the year rose seven percent to $10.8 billion, while analysts were expecting $10.7 billion. The company's organic growth, which excludes acquisitions, rose 12 percent. Operating profit also increased by ten percent.

A moment earlier, Coca-Cola shares were up 0.3 percent.

Many semiconductor manufacturers Nvidia The following companies in the financial sector have raised their target prices significantly, Bloomberg reports. This week UPS It upgraded its target price to $850 from $580 previously. Mizuho The price target was raised by $200 to $825. Nvidia's stock has gained nearly 50 percent since the start of the year, adding about $560 billion to its market value.

Nvidia's stock price is currently $718.

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