© Reuters.
By Liz Moyer
Investing.com — U.S. stocks tumbled on Tuesday after August’s inflation report showed prices hotter than expected. Here are the midday movers for Sept. 13:
- Tech stocks were particularly hard-hit in the selloff, with Apple Inc (NASDAQ:) and Microsoft Corporation (NASDAQ:) down 4% and Meta Platforms Inc (NASDAQ:) down more than 7%. Hotter than expected inflation is dampening hopes the Federal Reserve would raise rates less aggressively.
- Cheniere Energy Inc (NYSE:) stock rose 4.8% after the energy company raised its outlook for earnings for the full year and said it would hike its dividend. It is the largest U.S. exporter of liquified .
- Twitter Inc (NYSE:) shares ticked higher 0.7% as shareholders prepared to vote on Elon Musk’s $44 billion takeover, which they are expected to approve.
- Rent the Runway Inc (NASDAQ:) stock fell 32% after the online firm announced plans to cut staff and gave a lower revenue forecast amid a slump in subscribers.
- Planet Labs PBC (NYSE:) stock rose 16% after the satellite company raised its full year revenue outlook.
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