Worries Over Inflation Send U.S. Market Down

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"Inflation causes reduced consumer spending, it squeezes income. The market has been making new levels. It can't go up forever," John Kornitzer of Kornitzer Capital Management in Shawnee Mission, Kansas, told Bloomberg.

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"If we continue to obtain really strong economic numbers and bearish inflationary numbers along along with a hawkish Fed, and if we see a gigantic correction overseas, then you can easily see a correction here," Ryan, Beck & Co's Suskind told MarketWatch.

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