Financial Markets Wall Street

U.S. stocks are drifting lower after a report showed inflation was worse across the country last month than economists expected. The S&P 500 fell 0.2% Tuesday. The Dow Jones Industrial Average dipped 212 points, and the Nasdaq composite slipped 0.1%. The discouraging report on inflation caused traders to up their forecasts for coming hikes to interest rates by the Federal Reserve. One top Fed official even suggested that it could raise its main interest rate by twice the typical amount at its meeting next month. Oil prices continued to ease, which helped to support the stock market despite the pressure from rising yields.