Carvana Co(NYSE:CVNA) shares are trading lower by 1.4% to $128.96 Wednesday afternoon, though off the session low of $126.59. The stock fell following the release of the U.S. Consumer Price Index (CPI) inflation report for August, which revealed a persistent rise in core inflation, despite the headline inflation rate easing to its lowest level since February 2021.
The stock dropped early Wednesday as investors reacted to a surge in Treasury yields, driven by concerns over the potential for prolonged higher interest rates.
Inflation Data and Market Reaction
Inflation Data and Market Reaction: According to the report, headline CPI inflation fell to...
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