Photo / Getty ImagesInflation worries rattled Wall Street Wednesday, pulling the Dow Jones Industrial Average more than 680 points lower and placing the major stock indexes on track for their worst week in more than six months. Bond yields snapped higher after the government reported that consumer prices rose 0.8 per cent in April, more than expected, and prices rose year-over-year at the fastest rate since 2008. The Dow fell 681.50 points, or 2%, to 33,587.66, the worst decline for the blue chip index since late January. Inflation concerns have been hitting the stock market hard this week. Rising inflation makes stocks seem more expensive, particularly high-value tech stocks that trade on the potential for their future profits in coming years.

Source: New Zealand Herald May 12, 2021 20:48 UTC