TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, February 13.

Full Video Transcript Below:

J.D. DURKIN: I’m J.D. Durkin – here’s what we’re watching on TheStreet today.

Stocks were in the red to close out today’s session. The Dow closed down over 500 points, the Nasdaq closed down 1.8 percent, and the S&P closed 1.3 percent lower.

This comes as markets continue to digest hotter than expected inflation data. Consumer prices rose faster than expected in the month of January, renewing fears that interest rates may need to stay higher for longer. Markets are now pricing in an 8.5 percent chance that the Fed cuts rates in March and a 50 percent chance in June.

In other news – if you were planning on taking an Uber or ordering in a special meal for Valentine’s Day, you might want to make some other plans. Thousands of drivers from Uber, Lyft, and DoorDash across the United States and United Kingdom are planning to strike on February 14. The strikes are due to disputes over pay and working conditions.

Campaign group “Justice for App Workers,” which represents 130,000 drivers in the U.S., says drivers will stop giving rides from airports in 10 cities on Valentine’s Day. And in the U.K., the group “Delivery Job U.K” said its 3,000 food delivery drivers will stop working for five hours.

In a statement, the U.K.-based group said, “Our request is simple: we want fair compensation for the work we do. We are tired of being exploited. Valentine’s Day is a celebration of love, but it should not overshadow our struggle.”

According to Gridwise, which analyzes the gig economy, Uber drivers’ monthly average gross earnings fell by more than 17 percent in 2023, while Lyft drivers saw theirs increase by 2.5 percent.

That’ll do it for your daily briefing. I’m J.D. Durkin with TheStreet.