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Dow drops by nearly 500 points after a surprisingly bad inflation report

By Ilene
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Investors worry the hotter-than-expected inflation report will push back the Fed’s timeline for the rate cuts it has been hinting would come this year. zzz/NDZ/STAR MAX/IPx/AP

Dow closes 422 points lower after a surprisingly bad inflation report

By Nicole Goodkind, CNN 
 

US stocks fell sharply Wednesday after inflation data for March came in higher than expected.

The blue-chip Dow closed 422 points, or 1.1% lower. The S&P 500 lost 1% and the tech-heavy Nasdaq Composite fell by 0.8%.

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