Main Takeaway: Markets Down & Up
US inflation numbers came in at 8.2%, which was higher than expected. Immediately after, markets experienced a rapid selloff, but about two hours later, markets suddenly reversed and put in a +3% gain d-o-d. It was one of the few times the markets crashed by over 3%, suddenly reversing all the losses, and ending the day in the green. This means that it could be a bear market rally, or that the inflation numbers were already priced in.