NEW YORK: U.S. stocks suffered the biggest slump in at least 11 weeks on Wednesday and benchmark Treasury yields jumped after data showed consumer prices in April unexpectedly rose by the highest level in nearly 12 years, prompting bets on earlier interest rate hikes.
A 0.8% jump in the U.S. consumer price index - outpacing a 0.2% forecast - boosted the U.S. dollar as expectations of rising real interest rates burnished the currency's appeal.
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