By Liz Moyer
Investing.com -- U.S. stocks tumbled on Tuesday after August's inflation report showed prices hotter than expected. Here are the midday movers for Sept. 13:
- Tech stocks were particularly hard-hit in the selloff, with Apple Inc (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) down 4% and Meta Platforms Inc (NASDAQ:META) down more than 7%. Hotter than expected inflation is dampening hopes the Federal Reserve would raise rates less aggressively.
- Cheniere Energy Inc (NYSE:LNG) stock rose 4.8% after the energy company raised its outlook for earnings for the full year and said it would hike its dividend. It is the largest U.S. exporter of liquified natural gas.
- Twitter Inc (NYSE:TWTR) shares ticked higher 0.7% as shareholders prepared to vote on Elon Musk's $44 billion takeover, which they are expected to approve.
- Rent the Runway Inc (NASDAQ:RENT) stock fell 32% after the online firm announced plans to cut staff and gave a lower revenue forecast amid a slump in subscribers.
- Planet Labs PBC (NYSE:PL) stock rose 16% after the satellite company raised its full year revenue outlook.