From CNBC's "Dow futures drop 500 points after hot inflation report" posted early Tuesday:
Stock futures dropped on Tuesday morning after an August inflation report came in hotter than expected.
Dow Jones Industrial Average futures sank 525 points, or about 1.6%. S&P 500 futures fell more than 2% and Nasdaq 100 futures slid 2.7%.
The August consumer price index report showed a higher-than-expected reading for inflation. Headline inflation rose 0.1% month over month, even with falling gas prices. Core inflation rose 0.6% month over month.
Economists surveyed by Dow Jones had been expecting a decline of 0.1% for overall inflation, with a rise of 0.3% for core inflation...
"The fact the SPX has rallied so much in the last few days will make the index especially vulnerable to a downdraft. The fact the sources of inflation were so widespread is another negative (it's hard to pin the upside on any one category)," said Adam Crisafulli, founder of Vital Knowledge.
My take: This too will pass.