The Dow Jones Industrial Average notched a fifth day of losses, while the S&P 500 fell 1.7%, dropping back below 4,000 a key psychological level.
|I:DJI||DOW JONES AVERAGES||31253.13||-236.94||-0.75%|
|I:COMP||NASDAQ COMPOSITE INDEX||11388.495467||-29.66||-0.26%|
The Nasdaq Composite fell 3% to its lowest level since March 2020.
Large-cap tech including Facebook, Microsoft and Apple all declined.
|FB||META PLATFORMS INC.||191.29||-0.95||-0.49%|
The CPI Index rose by an annual rate of 8.3%, more than economists expected and slightly less than the prior month's 8.5%.
|USO||UNITED STATES OIL FUND L.P.||80.58||+1.29||+1.63%|
|BNO||UNITED STS BRENT OIL FD LP UNIT||31.86||+0.57||+1.82%|
Oil rose with U.S. West Texas Intermediate crude up 6% to $105 and Brent, the international benchmark, settled at $107.
The Energy Information Administration released its inventory report for last week. Crude stockpiles rose by 8.4 million barrels, following a surprise build of 1.3 million barrels the previous week.
|COIN||COINBASE GLOBAL INC.||67.42||+4.39||+6.96%|
Moderna in focus after announcing its "recently appointed Chief Financial Officer, Jorge Gomez, has departed the Company, effective immediately. The announcement follows the May 10 public disclosure by Mr. Gomez's former employer, Dentsply Sirona Inc., of an ongoing internal investigation into certain matters, including financial reporting" the company disclosed in a statement.
After the close of trading, Dow member Disney is set to report.
|DIS||THE WALT DISNEY CO.||103.14||-1.16||-1.11%|
Bitcoin dipped below the $30,000 level following the hotter than expected inflation reading.
FOX Business' Ken Martin and The Associated Press contributed to this report.