U.S. stocks are sinking Wednesday after a report said inflation is unexpectedly getting worse for Americans. The S&P 500 was 0.9% lower in morning trading. The Dow Jones Industrial Average was down 415 points,

Investors have watched Wall Street's major market averages fall on Wednesday while yields jumped in response to the latest retail inflation report which came in hotter than expected.

Some calm is returning to Wall Street, and U.S. stock indexes are making only modest moves after much of Europe and Asia rose earlier in the day

Wall Street's main indexes hit an over one-week low on Wednesday, as a hotter-than-anticipated inflation reading added to concerns that the Federal Reserve would not cut interest rates anytime soon. U.

Bond traders pushed out bets for the next Federal Reserve interest-rate cut to December, from mid-year previously, as underlying US inflation last month rose by more than forecast.