New York-Sana
A massive sell-off pushed US stocks sharply lower after a report showed US inflation unexpectedly rose last August while dashing hopes that the Federal Reserve will ease its policy tightening in the near future.
And all three major US stock indices recorded sharp declines to halt a four-day winning streak and suffer the biggest one-day loss in more than two years.
Increased risk aversion pushed all major sectors lower, with interest rate-sensitive technology stocks led by Apple, Microsoft and Amazon the biggest losers.
The US Labor Department said the consumer price index rose 0.1 percent last month, after remaining unchanged in July, and economists polled by Reuters had expected a 0.1 percent drop.
According to preliminary data, the Standard & Poor's 500 Index fell by 177.72 points, or 4.32 percent, to close at 3,932.69 points, while the Nasdaq Composite lost 631.41 points, or 5.16 percent, to 11,635.01 points, and the Dow Jones Industrial Average fell 1285.66 points, or 1.97 percent, to 3,1095.68 points.
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