Stock Market Today – 7/14: Stocks Tumble On Inflation, Recession Fears; JPMorgan Profit Miss Rattles Bank Sector

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The Street

By Martin Baccardax Mounting recession fears, surging inflation and a surprise profit slump from JPMorgan has Wall Street facing sharp losses at the start of trading Thursday. U.S. equity futures extended declines Thursday, while the safe-haven dollar consolidated gains against its global peers and oil prices slumped, as investors reacted to white-hot June inflation reading that has re-set expectations for Fed rate hikes. Stocks were also hit by a weaker-than-expected second quarter earnings report from JPMorgan (JPM) – Get JP Morgan Chase & Co. Report, with the biggest U.S. bank setting aside…

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