Dow extends losing streak to 5 days as stocks end sharply lower after inflation data

All three major U.S. stock benchmarks closed lower Wednesday, with Dow Jones Industrial Average booking a fifth straight day of losses, as investors parsed fresh inflation data showing the annual pace slowed less than expected. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.23% closed down about 1%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% fell about 1.6% and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.35% dropped around 3.2%, according to preliminary FactSet data. The consumer-price index rose in April to an annual rate of 8.3%, slowing from the 12-month pace of 8.5% seen through March, according to a report Wednesday from the U.S. Bureau of Labor Statistics.

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