Stocks Plunge as Inflation Worries Drag Down Market

Stock market saw sharp declines on Tuesday, with the Dow dropping 524 points, after Biden tweeted over the weekend that the market was "going strong".

Losses were widespread, with nearly 90% of S&P 500 stocks falling, in one of the index's biggest single-day drops since late October.

Declines attributed to disappointing inflation report showing prices still too hot, dampening hopes for potential Fed rate cut in March.

Despite market losses, Biden insisted economy still in full recovery, touting strong wage growth and declining inflation.

Biden vowed to keep fighting to lower costs for middle class families and stand against Congressional Republicans who disagree.