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### The Drop in US Stocks Deepens Amid Signs of Ongoing Inflation Fight

#### Introduction
In the final hour of Tuesday trading, the drop in US stocks deepened as investors expressed concerns over the Federal Reserve’s ongoing battle with inflation. Shorter-dated US bonds, however, experienced gains as investors took advantage of the market dip.

#### Market Performance and Factors
The S&P 500 fell 1.3%, while the Nasdaq 100 slid 1.2% following better-than-expected US retail sales data. This data suggests that the economy has the capacity to handle higher interest rates and potentially dissuade policymakers from making a policy pivot. Financials also dragged down the broader benchmark after Fitch issued a warning that larger lenders such as JPMorgan Chase & Co. and Bank of America Corp. could face potential downgrades. Discover Financial Services was the worst-performing stock, as its CEO resigned.

#### Expert Analysis and Views
Rhys Williams, the chief strategist at Spouting Rock Asset Management, stated that the recent retail sales data indicates that the economy is holding up well. Williams, however, remains skeptical about the possibility of bringing down inflation and maintaining it at the central bank’s target rate of 2% this year. Fed officials, including Neel Kashkari, the President of the Minneapolis Fed, have also highlighted concerns about high inflation levels.

#### Earnings and Consumer Trends
Amidst the market turbulence, Home Depot Inc. reported better-than-expected earnings, suggesting that US home improvement spending is performing slightly better than anticipated after a robust growth phase during the pandemic. Further insights into consumer behavior will come from upcoming reports by Target Corp. and Walmart Inc. Investors are growing cautious about the ability of consumer-oriented companies to sustain their pricing power as the lagged effects of the Fed’s tightening of monetary policy take hold.

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