Stocks capped another shaky day on Wall Street with more losses Wednesday, after a highly anticipated report on inflation turned out to be even worse than expected.
The S&P 500 ended 0.4 percent lower, its fourth consecutive drop, after tumbling as much as 1.6 percent earlier. The Dow Jones Industrial Average fell 0.7 percent, while the Nasdaq composite dropped 0.2 percent, erasing nearly all of an early 2.1 percent loss.
Markets took a few U-turns through the morning, as has become the norm on Wall Street this tumultuous year. They were following the lead of Treasury yields in the bond market, which initially surged on expectations that Federal Reserve policymakers will hike interest rates drastically to slow the nation’s skyrocketing inflation….