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The Dow Jones Industrial Average ended Wednesday with its steepest monthly decline since March, a performance that highlighted investor hesitation despite cooler-than-expected inflation data.
The broader market showed mixed results, with the S&P 500 falling 0.3% and the Nasdaq 100 rising 0.2%, while the Russell 2000 index of small-cap stocks dropped 0.7%.
This divergence suggests that the recent drop in inflation metrics has not yet convinced all market participants to reverse their bearish stance on traditional large-cap value stocks.
The personal consumption expenditures price index, a key measure of inflation, rose 3.4% annually in August, down from an initial 3.7% reported for the prior month which was later revised to 3.4%.
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