NEW YORK (AP) — U.S. stocks fell after a report said inflation is unexpectedly worsening for Americans. The S&P 500 dropped 0.3% Wednesday, though it had been on track for a much worse loss of 1.1% at the start of trading. The Dow Jones Industrial Average fell 0.5%, while the Nasdaq composite wound up little changed. Stocks pared their losses through the day as oil prices eased. Treasury yields leaped to crank up the pressure on financial markets after the morning’s inflation report showed an unexpected acceleration for January. That reinforced bets the Federal Reserve may not cut interest rates this year.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
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