Anxiety fueled by rising inflation is upsetting traders on Wall Street. On Monday, US futures slipped, with the Dow Jones dropping 0.34%, the S&P 500 0.49%, and the Nasdaq Composite 0.72%. The oil rally is not helping the cause, with US crude oil hitting a seven-year high on Monday. The WTI is now trading at $81 a barrel. Rising commodity prices, together with labor shortages and supply chain issues, have magnified the fear of elevated prices denting into corporate profits.  

The bad news is that investors shouldn't be the only ones losing sleep over this. The permanent inflation, combined with the surging natural gas prices, poses a significant risk to consumers – who could see their energy and food expenses rise significantly in the coming months. Not to mention that due to the ongoing situation, the Federal Reserve could soon decide to begin reducing asset purchases, causing more turmoil on the market.