Inflation report sinks stocks

Meanwhile, Wall Street saw more losses Wednesday after a report on inflation came in worse than feared.

Wednesday’s report from the U.S. Labor Department showed inflation slowed a touch in April, down to 8.3% from 8.5% in March. But the numbers were still higher than economists forecast. They also showed a bigger increase than expected in prices outside food and gasoline, something economists call “core inflation.”

Said Ross Mayfield, investment strategy analyst at Baird: “It’s just a seller’s market right now.”