U.S. stocks fell Wednesday, giving the Dow Jones Industrial Average and S&P 500 their steepest three-day declines in nearly seven months, after a sharpThe S&P 500 dropped 2.2%, while the Dow Jones Industrial Average retreated 2%, or about 682 points. Both indexes had their largest three-day point and percentage declines since late October. The tech-heavy Nasdaq Composite slumped 2.7%.
Investors had been watching for the Labor Department’s release Wednesday morning of data on consumer prices. That report showed the consumer-price index jumped 4.2% in April from a year before, the most in any 12-month period since 2008. The index measures what consumers pay for goods and services such as clothes, restaurant meals and vehicles. Core prices, which exclude the volatile categories of food and energy, rose 3% from a year earlier.
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