Finspiration Australia. Increasing inflation data drops stocks in the U.S.

Overnight.

 Dow Jones -1.47%.  SP500 -1.81%.  Nasdaq -2.1%.  Small Caps -1.39%.  Banks -0.32%.

SP500.

SP500 drops back into its recent short-term consolidation area. Failed break-outs such as these usually continue to the downside.  

The chart remains locked between the 50-Day and 200-Day MA so the SP500 may be OK.

We now have a new trading range, 4450-4590.  4500 is the 200-Day MA.  

Commodities.

Commodities Index -0.52%.  Energy -0.41%.  Base Metals -0.66%.  Gold -0.38%.

Iron Ore +4,8%.

After 15 minutes of trading, XJO is down -0.5%.  The big iron ore miners are saving the market from a serious savaging.