BREAKING: $300 billion wiped out from US markets at open. S&P 500 down -0.45%, wiping out $270 billion. Nasdaq down -0.95%, wiping out $285 billion. CPI just came in at 3.8%, the highest since May 2023, above the 3.7% expectation. The market is now pricing in a 35.2% chance of a rate hike in 2026.