US stocks end sharply lower as sticky inflation dims rate cut hopes

The S&P 500 dropped 0.9%, and the vast majority of stocks within the index fell. The Dow Jones Industrial Average tumbled 422 points, or 1.1%, and the Nasdaq composite sank 0.8%. Treasury yields also leaped in the bond market, raising the pressure on the stock market, after a report showed inflation was hotter last month than economists expected.