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The upside surprise in PPI was mainly driven by a sharp rise in diesel prices, along with factors such as developments in the Middle East. The CPI scheduled for tonight will be released at 20:30. The market expects 3.3%. These two data points have already caused U.S. stocks to trade choppily lower in pre-market. Especially for leading stocks such as $SNDKB and $SPCXB , which all opened higher and then fell. If the CPI core reading is weak, then rate-hike expectations would ease back, and U.S. stocks would rise. On the other hand, if the CPI comes in hotter than expected, then rate-hike expectations would intensify, and U.S. stocks would plunge. This rate-hike storm isn’t affecting only U.S. stocks. Mainstream crypto markets are also crashing—Bitcoin is down from 80,000 to 76,000. Many meme tokens have been cut in half, with liquidity drained. The turmoil around the Fed’s policy meeting on the 15th seems to have arrived early. #CPI数据来袭能否触发9月加息