Dow, S&P 500 close lower after inflation report

Stocks closed lower on Wednesday after new data showed that inflation turned cooler than expected in March. The indices had alternated between gains and losses throughout the day.

The fresh data: The 5% year-over-year increase in the consumer price index, a closely watched gauge of inflation, was down from February’s 6% increase and the smallest increase since May 2021.

US stocks had rallied in recent sessions, boosting the 60-40 portfolio after a terrible year for the strategy. Read more about it from the Journal̵[ads1]7;s Hardika Singh here.

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