Restaurant stocks decline due to US inflation pressures and sluggish customer traffic
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As of 13:35 Eastern Time, 16 out of 19 constituent stocks fell, mainly dragged down by recent inflation data and industry traffic trends. Cheesecake Factory, Brinker, Cava, and Wingstop were among the worst-performing stocks. The Producer Price Index (PPI) released on Wednesday and the Consumer Price Index (CPI) released on Tuesday both exceeded expectations, diminishing hopes for a near-term interest rate cut by the Federal Reserve. Expand
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