US stocks record worst day since July

Key points

• US stocks suffered their worst day since July after a report showed inflation rising faster than expected. The S&P 500 fell 1.1 per cent, its fifth loss in six days since reaching an all-time high.
• Rising bond yields and higher expectations of interest rate rises by the Federal Reserve weighed on shares.
• Heavy losses hit artificial intelligence companies, including Nvidia and CoreWeave, while Bank of America fell 4.8 per cent after weaker profit and revenue figures.