Dow tumbles 475 points, S&P 500 suffers worst day since January as inflation woes erupt

The Dow Jones Industrial Average and the S&P 500 both took a hit, with the Dow Jones dropping 475 points and the S&P 500 recording its worst day since January. This is believed to be due to concerns over rising inflation. Investors seem wary of higher inflation which could compel central banks to increase interest rates. This could dampen economic growth, making investors additionally cautious about the outlook for corporate profits. Companies heavily depending on debt for their operations could also be negatively impacted by any interest rate hikes. The latest economic data and comments from central bank officials will be closely watched for clues on the future path of monetary policy and inflation.