Cloud ETFs Sink Up to 22% as March CPI Hits 3.3% and 2026 Rate-Cut Odds Fall to 1-in-3
U.S. CPI re-accelerated from 2.4% to 3.3% in March 2026, driven partly by Iran war energy disruptions, cementing a higher-for-longer Federal Reserve posture. Futures markets now put 2026 rate-cut odds at just 1-in-3, applying severe discount-rate pressure on cloud and AI equities. WCLD is down 22%, CLOD off 14%, and SKYY lower by 10% year-to-date.
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