(CNBC) -- U.S. stocks declined sharply on Wednesday with major indexes suffering some of their worst sell-offs of the year, as hotter-than-expected inflation data triggered massive selling especially in technology shares.
The Dow Jones Industrial Average fell 681.50 points, or 2%, to 33,587.66, posting its worst day since January. The blue-chip benchmark tumbled 700 points to its session low in the final minutes of trading. The S&P 500 lost 2.1% to 4,063.04 for its biggest drop since February, while the tech-heavy Nasdaq Composite slid 2.7% to 13,031.68, bringing its weekly decline to more than 5%.
The selling intensified after the S&P 500 fell below Tuesday’s low, a level traders were watching closely because of the intraday rebound one day ago. Once the S&P fell below that low about an hour into the trading day, the benchmark dropped even further.
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