Data released overnight showed the U.S. consumer price index in October seeing its biggest surge in more than 30 years.
Major indexes on Wall Street fell following the inflation data release, with the Dow Jones Industrial Average dropping 240.04 points to 36,079.94 while the S&P 500 shed 0.82% to 4,646.71. The Nasdaq Composite lagged as it dropped 1.66% to around 15,622.71.
Meanwhile, U.S. Treasury yields climbed following the consumer price data release. The yield on the benchmark
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