Afternoon Update – Mega-Cap Weaknes

CPI data came in weaker than expected, upsetting market hopes that inflation may be peaking. Yet CPI did moderate from last month. The Dow and Small Caps are testing around yesterday’s low, while the S&P and NASDAQ-100 have made lower lows as the influential mega-caps (MGK-3.1% vs. equal weight S&P -1.3%) come under sustained selling…