Scortching Inflation, Food Supply Hit With A Haymaker, Amazon Collapses Worst In A Decade News Wrap

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It seems like scorching inflation is still unfolding in nearly every sector, including the price of hotel rooms, according to a new report.
The national average daily rate for a room in March rose to $146.61, marking its highest level for any month on record
STR, who provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry, reported this week that the average daily rate (ADR) rose 10.9% from pre-crisis levels. Occupancy, however, slid -6.2% to 64%, the release notes, while revenue per available room was up 4% to $93.82.
we see inflation is mixing with food shortages pushing U.S. spring-wheat futures to the highest level since 2008, as the Northern U.S. Plains are plagued with devastating floods that prevent farmers from planting in the high-producing crop region.
Blizzards, winter storms, high winds, and extreme flooding battered the Dakotas and stalled plantings in April, raising concerns about shrinking crop yields as present plant dates for North Dakota are at the end of May.
Because of wet conditions, farmers cannot work their fields, which means yields will decrease everyday wheat isn't planted.
Now lets turn to the market madness, striking fear into the hearts of the buy the dippers
Amazon shares have plunged the most in almost a decade - tumbling 12%, just a little bit less compared to the 12.8% one-day loss in October 2011 - after the e-commerce company gave a dismal outlook that was seen as disappointing and reported a rise in operating costs after its hiring and warehouse-construction push.

As always focused on the rearview mirror, dozens of Wall Street firms cut their price targets on the stock after the fact, taking the average to about $3,761, its lowest since 2020 and down from $4,100 at the start of the month. At least 31 brokers have cut their price targets over the past month, It seems like almost everyone has turned on Amazon which used to be a top market favorite.