CNBC Business News Update Market Close: Stocks Lower, Dow Closes At Its Low For The Year On Inflation Fears, Fed Holds Rates Steady 3/18/26
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Mar 18, 2026 Markets fell as the Fed held rates, with the Dow closing at its yearly low and big movers like McDonald’s and NVIDIA noted. Discussion covers Powell’s take on tariffs and an oil shock. Rising gas prices and a sharp Producer Price Index jump get attention. Also explored: tariffs pushing costs to consumers and shifting global wealth trends for women.
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Markets Drop After Fed Holds Rates
- The Fed held rates steady while markets reacted to rising inflation fears and geopolitical oil shocks.
- Jessica Ettinger reports the Dow fell to a 2026 low, S&P and Nasdaq down ~1.3–1.5% as investors priced in inflation risk.
Powell Ties Inflation To Tariffs And Oil Shock
- Fed Chair Jay Powell linked inflation largely to goods and tariffs and flagged an oil shock from the U.S. attack on Iran.
- Powell warned higher oil hurts spending and employment while pushing inflation up, and pump prices rose five cents Wednesday.
PPI Surprise Signals Wholesale Inflation Pressure
- The producer price index jumped 0.7% month-over-month, far above the expected 0.3%, marking the biggest rise since July 2025.
- Rick Santelli highlights food and vegetable indexes spiking, signaling wholesale inflation pressures to consumers.