How major US stock indexes fared Thursday

The Associated Press

Stocks slumped and bond yields moved sharply higher after a hot reading on inflation led to greater expectations that the Federal Reserve will have to move forcefully to cool down the economy by raising interest rates. The yield on the 10-year Treasury jumped above 2% for the first time since the summer of 2019. That came after the government reported that consumer prices rose at an annual rate of 7.5% last month, the fastest pace since 1982. The big swings marked a return of the volatility that has shaken markets in recent weeks.