Stocks end sharply lower as hot inflation reading sparks Fed fears
Stocks finished with sharp losses Thursday, dropping after the January consumer-price index showed a much hotter-than-expected 7.5% year over year jump. Equities took another leg lower in afternoon trade after St. Louis Federal Reserve Bank President James Bullard told Bloomberg that he would like to see the central bank deliver 100 basis points, or 1 percentage point, worth of rate increases over its next three meetings. The Dow Jones Industrial Average dropped around 526 points, or 1.5%, to close near 35,242, while the S&P 500 shed around 83 points, or 1.8%, to close near 4,504. The Nasdaq Composite tumble around 304 points, or 2.1%, ending near 14,186.
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