Stocks Sink as Fed Signals Ongoing Rate Hikes to Tame Inflation

The Dow Jones fell Monday after inflation data and comments from Fed Chair Jerome Powell. Tesla stock also declined after the automaker hiked Model Y prices.

Inflation data released Friday showed core PCE inflation rose to 2.8% annually in February, bolstering the case for further Fed rate hikes.

Powell said Friday the Fed aims to see lower inflation before pausing rate hikes, but doesn't want to overtighten and spur excess economic weakness.

The March jobs report out Friday is expected to show 180,000 jobs added, with analysts eyeing wage growth trends.

Key stocks near potential buy points include Google parent Alphabet, networking firm Arista, sports betting platform DraftKings and enterprise software leader ServiceNow.