Dow and Nasdaq Decline as Inflation Hits 3-Year High

AI Summary

The Dow and Nasdaq both experienced declines as inflation rates reached a three-year high, impacting market sentiment. The S&P 500 also retreated from its previous record due to a cooling tech rally and rising oil prices. Treasury yields have increased alongside these changes. Chip stocks have dipped from recent highs, contributing to the overall drop in market indices.