Why Newmont Stock Slumped on Wednesday

Newmont stock fell 5.9% on Wednesday as U.S. inflation topped 4% in May, reducing the likelihood of Federal Reserve interest rate cuts. This makes gold less attractive compared to interest-bearing bonds. Gold prices dropped over 4% to below $4,100 per ounce. The gold producer is particularly vulnerable due to expected 2026 production declines and rising costs, making it sensitive to further gold price weakness.