Stocks fell broadly on Wall Street Tuesday as new data showing that inflation is still running high put a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year. The S&P 500 index fell 0.7 percent, adding to its losses from a day earlier. Nearly 70 percent of the companies in the benchmark index fell, led by technology stocks. Only financial sector stocks eked out again. The Dow Jones Industrial Average dropped 0.3 percent, while the tech-heavy Nasdaq composite slid 1.1 percent. Smaller company stocks fell more than the broader market, closing 1 percent lower. The selling came as investors received another update on persistently rising inflation. The Labor Department reported that prices at the wholesale level surged by a record 9.6 percent in November from a year earlier. The department’s producer price index measures inflation before it reaches consumers. Businesses have …