How major US stock indexes fared Wednesday

An eye-opening report on inflation that was hotter than expected slammed into the bond market on Wednesday, sending yields jumping, and helping knock stocks lower.

The sharpest inflation since 1990 forced investors to boost bets that the Federal Reserve will have to raise short-term interest rates more quickly off their record low. That in turn sent Treasury yields to their biggest gain in months. Higher yields tend to hurt expensive and high-growth stocks, and the S&P 500 fell, along with the Dow Jones Industrial Average and the Nasdaq.

On Wednesday:

The S&P 500 fell 38.54 points, or 0.8%, to 4,646.71.

The Dow Jones Industrial Average fell 240.04 points, or 0.7%, to 36,079.94.

The Nasdaq fell 263.84 points, 1.7%, to 15,622.71.

The Russell 2000 index of smaller companies fell 37.71 points, or 1.6%, to 2,389.58.

For the week:

The S&P 500 is down 50.82 points, or 1.1%.

The Dow is down 248.01 points, or less than 0.7%.

The Nasdaq is down 348.88 points, or 2.2%.

The Russell 2000 is down 47.50 points, or 1.9%.

For the year:

The S&P 500 is up 890.64 points, or 23.7%.

The Dow is up 5,473.46 points, or 17.9%.

The Nasdaq is up 2,734.42 points, or 21.2%.

The Russell 2000 is up 414.73 points, or 21%.

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