Consumer and wholesale inflation data key to market direction

US stocks plunged last week to the biggest weekly loss since 2011, and the major indexes entered official correction territory in a market meltdown that looks set to continue this week.

The 2018 stock-market correction was caused by a spike in Treasury yields triggered by the wage-inflation data on Friday, Feb 2.

That raises the stakes on this week's consumer and wholesale inflation data to fever pitch.