US Stock Indices Slide: Nasdaq down 1.80%, S&P 500 falls 1.37%, Dow Jones records 1.35% Decline

All three major US indices tumbled yesterday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher. The Nasdaq Composite index declined 1.80 percent and the S&P 500 fell 1.37 percent. The Dow Jones Industrial Average lost 1.35 percent which is the biggest one day percentage drop in nearly 11 months.