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Economic Preview: Election over, investors are back on inflation watch and feeling a little spooked

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Wall Street hasn’t had to worry about rising inflation for a long time, but now investors are feeling anxious.

The results of a superheated 2018 election didn’t bother Wall Street much, but oh, just a whiff of inflation sure did.

U.S. stocks surged after voters divided power in Congress between Democrats and Republicans. But the Dow Jones Industrial Average DJIA, -0.77% and S&P 500 SPX, -0.92% tumbled toward the end of last week, especially after wholesale inflation showed the biggest gain in six years.

The increase was driven by higher gas prices and rising costs for industrial supplies, perhaps a byproduct of Trump administration tariffs on steel and other foreign goods

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