US Stocks Fall as Inflation Data Exceeds Expectations

US stocks experienced a decline today due to higher-than-expected inflation data released by the US Bureau of Labor Statistics. The Dow Jones Industrial Average fell by 0.51%, the S&P 500 declined by 0.62%, and the Nasdaq index lost 0.63%. The increase in inflation could lead to the Federal Reserve keeping interest rates elevated for a longer period of time to control it. However, some retail-sector companies, such as Wallgreens and Dollar General, saw gains despite the overall market decline. Other market movements included a rise in US Treasury yields and a slight increase in oil prices.

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