Thornburg Investment Management Portfolio Manager Lon Erickson in Business Insider

Dow falls 240 points after CPI data shows inflation is running at a 30-year high

US stocks saw their worst drop for the month Wednesday after hotter than expected inflation data showed that prices are rising at the fastest rate in decades.

The Dow Jones Industrial Average ended lower by 240 points. The Nasdaq composite and the benchmark S&P 500 also closed lower.

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