US Stocks Fall as Inflation Stays High Ahead of Fed Speech

Stock markets in the US ended lower on Wednesday as investors digested the latest inflation data. The S&P 500 fell less than 0.1%, while the Dow dropped 0.2%.

The personal consumption expenditures price index rose 3.7% in July from a year ago, matching June's annual increase. This stability in inflation numbers gives the Federal Reserve room to wait and see before making any decisions on interest rates.

However, economists warn that inflation remains high and investors will be closely watching Fed Chair Kevin Warsh's speech at the Jackson Hole symposium this week for clues on US interest rate policy.

Nvidia's after-hours earnings report was also eagerly anticipated, but its shares fell 1.6% despite a solid second-quarter number.