欧美文化:U.S. stocks drop as inflation hits four-decade high

NEW YORK, April 12 (Xinhua) -- U.S. stocks fell on Tuesday as data showed U.S. inflation surged to a four-decade high in March.

The Dow Jones Industrial Average decreased 87.72 points, or 0.26 percent, to 34,220.36. The S&P 500 was down 15.08 points, or 0.34 percent, to 4,397.45. The Nasdaq Composite Index fell 40.39 points, or 0.30 percent, to 13,371.57.

Seven of the 11 primary S&P 500 sectors ended in red, with financials down 1.07 percent, leading the laggards. Energy rose 1.72 percent, the best-performing group.

U.S.-listed Chinese companies traded lower with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

U.S. Labor Department reported on Tuesday that the nation's consumer price index, a key gauge of inflation, jumped 8.5 percent in March from a year earlier, the largest 12-month increase since the period ending December 1981.

The red-hot inflation report solidified market expectations that the U.S. Federal Reserve will raise interest rates aggressively in the coming months.

The Fed's March meeting minutes released last week showed many participants noted that one or more 50 basis point increases in the target range could be appropriate at future meetings, particularly if inflation pressures remained elevated or intensified.