US stocks drop to their worst day since July as inflation worsens
NEW YORK (AP) — U.S. stocks dropped to their worst day since July on Wednesday following the latest signal that inflation is getting worse. The S&P 500 sank 1.1% for a fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average fell 48 points, or 0.1%, and the Nasdaq composite slid 1.9% as stocks in the artificial-intelligence industry led the way lower. Stocks felt pressure from rising yields in the bond market, where worries grew after a report said U.S. consumers had to pay prices for fuel, food and other costs of living last month that were 3.7% ...