U.S. Stocks Extend Slide; Bonds Fall on Auction: Markets Wrap
- Consumer prices accelerate at the fastest pace since 1990
- Bitcoin erases gain after hitting record; Gold surges
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U.S. stocks fell by the most in a month and Treasury yields spiked higher as a hot inflation reading roiled financial markets.
The S&P 500 slid 0.8%, extending earlier losses, after a 30-year Treasury auction went off at higher yields than anticipated. Two-year yields also shot higher after data showed the fastest annual inflation rate since 1990, upending bets on the timing for the next interest rate increase.