On Thursday 13/10/2022, Wall Street experienced a decline due to massive and significant selling, resurrecting the doubt of a "stock market crash". Stocks went into oversold territory for the first time since 2016. This chill in the air came from the fact that the U.S. Department of Labor announced that the overall consumer price index (CPI) rose by 8.2% per year.
Finally, on Friday 14/10/2022, investors took advantage of the overs
old low to seize opportunities, Wall Street stock indices rallied dramatically, closing sharply higher "while the dollar gave up its earlier gains as investors returned to riskier bets after digesting a very high US inflation reading that fuelled bets of a sharp rate hike by the Federal Reserve next month."