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Sector & Market

US Stocks Drop 0.7% on Hot CPI

S&P 500 slipped 0.7% to 7,358.19, Nasdaq fell 1.3% to 25,946.86, Dow dropped 0.6% to 49,432.74. April CPI rose 0.6% MoM and 3.8% YoY, the highest YoY since May 2023, driven by 3.8% MoM energy price su