Wall Street lost ground on Tuesday as rising commodity prices and labor shortages fueled fears that, despite reassurances from the U.S. Federal Reserve, near-term price spikes could translate into longer-term inflation.
By late afternoon the indexes were off their session lows, but the sell-off was fairly evenly dispersed across the sectors.jumped to a record high in MarchThe report suggests labor supply is not keeping up with surging demand as employers scramble to find qualified workers.
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