US stocks fall as inflation rises, hitting worst day since July

Inflation accelerated to 3.7 percent, fuelling expectations that the Federal Reserve will raise interest rates again.

US stocks dropped to their worst day since July on Wednesday, with the S&P 500 sinking 1.1 percent for a fifth loss in the six days since setting its all‑time high.

The Dow Jones Industrial Average fell 48 points, or 0.1 percent, and the Nasdaq composite slid 1.9 percent as stocks in the artificial‑intelligence industry led the way lower, with rising yields in the bond market adding pressure after a report said consumers paid 3.7 percent higher prices for fuel, food and other costs of living last month.

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