US inflation data hits global stocks, lifts benchmark yields

Wall Street retreated. The Dow Jones Industrial Average fell 1.47% to end at 35,241.59 points, while the S&P 500 lost 1.81% to 4,504.06. The Nasdaq Composite dropped 2.1% to 14,185.64. It was the seventh time in 2022 that the Nasdaq lost more than 2% in a session.

WASHINGTON/LONDON: Major global stock indexes fell on Thursday under pressure from crucial U.S. inflation data, falling technology shares and rising benchmark bond yields.

U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial market speculation for a 50 basis points interest rate hike from the Federal Reserve next month.