CNBC Business News Update Market Midday: Stocks Sell Off, Wholesale Inflation Popped In January, UBS Downgrades US Stock Market 2/27/26
Feb 27, 2026
Gary Cohn, former National Economic Council director and business executive, provides expert commentary on inflation and producer price index developments. He discusses input-cost pressures from commodities, labor and interest rates. The conversation also touches on a major market sell-off and UBS's broad downgrade of U.S. stocks.
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U.S. Stocks End February With A Sharp Drop
- U.S. stocks finished February poorly with the Dow down sharply and major indices falling.
- The Dow plunged 551 points while the S&P 500 and Nasdaq fell and NVIDIA slid about 2.5%, signaling broad market weakness.
UBS Says U.S. Outperformance Is Fading
- UBS downgraded the entire U.S. stock market citing fading factors that powered outperformance.
- The weaker U.S. dollar and stronger foreign markets so far this year are eroding America's advantage, per UBS's view.
Rising Oil Pushes Gas Prices Higher
- Oil and pump prices are rising, contributing to inflation concerns.
- Oil hit about $67 a barrel and the national average for regular gas rose to $2.98 a gallon, up 10 cents in four weeks.