CNBC reports:

Stocks fell Thursday morning and the S&P 500 fell to its lowest level since 2020 after a key consumer inflation report came in hotter than expected, signaling that the Federal Reserve will likely continue with aggressive interest rate hikes.

The Dow Jones Industrial Average fell 233 points, or 0.82%, and also briefly hit its lowest intraday level since November 2020. The S&P 500 slipped 1.27% and the Nasdaq Composite slumped 1.94%. Shares of large consumer companies led the losses as ...

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