Market Close: Stocks Fall But Cut Earlier Losses, CPI Hotter Than Expected, One Fed Official Suggests Skipping Next Rate Cut

The stock market faces a downturn following disappointing economic data, including a hotter-than-expected Consumer Price Index. Jobless claims are on the rise, raising inflation concerns among major indices. A Federal Reserve official hints at pausing interest rate cuts amidst stabilization in inflation and employment rates. Notably, CVS Health defies the trend with its stock soaring to all-time highs despite market volatility.