#MarketTurbulence On the late evening of August 14, 2025, global markets were rattled by a sudden spike in U.S. producer price inflation—core PPI jumped to 3.7%, its highest in three years—prompting traders to slash the odds of a September interest-rate cut Reuters. The S&P 500 and Nasdaq slipped from record highs, while the Dow fell about 104 points, signaling market jitters. Meanwhile, the surge to 40 million contracts in CME’s interest-rate futures open interest underscored widespread hedging amid mounting policy uncertainty.