US STOCKS-Wall St ends sharply lower as hot inflation sparks sell-off ...Middle East

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US STOCKS-Wall St ends sharply lower as hot inflation sparks sell-off
source : Devdiscourse ( Middle East ) () 34
Wall Street's main indexes tumbled on Tuesday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher. The Dow Jones Industrial Average posted its biggest one-day percentage drop in nearly 11 months, after a Labor Department report showed U.S. consumer prices increased above forecasts in January amid a surge in the cost of shelter.

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