Markets sell off as inflation data and Fed hold weigh on stocks

Markets sell off as inflation data and Fed hold weigh on stocks

Stocks started sliding at the opening bell on Wednesday, March 18, as a hotter-than-expected Producer Price Index reading and rising oil prices reignited inflation worries. The Dow dropped at the open, with the S&P and Nasdaq also moving lower and closing sharply lower. Small-cap stocks lagged as traders factored in the risk that stubborn inflation could delay or limit future rate cuts. Treasury yields ticked higher, the VIX bounced, and rate-sensitive sectors bore the brunt of the selling.

The FOMC voted 11-1 to maintain the federal funds rate at its current target range of 3.5% to 3.75% — the second consecutive meeting where rates were held steady. The lone dissenter was Christopher Waller, who preferred a quarter-point cut. The PPI for final demand rose 3.4% year-over-year in February 2026, the largest increase over the past year.

Volume came in heavier than on recent up days, with closes skewed toward session lows, reflecting sustained intraday pressure rather than a quick shakeout.

Gobble's Take: Hotter inflation data and a steady Fed rate kept sellers in control for the session.

Source: Major Financial Headlines

S&P 500 setup looks bullish in one market map, bearish in another

One market note says the S&P 500 continues to maintain a bullish structure and should continue pushing higher in the short- to medium-term.

Gobble's Take: Same market, different reads — the chart crowd loves a good debate.
Source: Skillman Grove Research

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