US stocks slide on rising inflation, Nasdaq tanks around 2%

The US stocks witnessed their their worst session in three months on worries posed by elevated inflation. The S&P 500 slipped 1.1 percent for a fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average fell 48 points, or 0.1 percent, and the Nasdaq composite tanked 1.9 percent as stocks in the artificial-intelligence industry led the way lower. Stocks eyed rising yields in the bond market, where worries grew after a report said U.S. consumers had to pay prices for fuel, food and other costs of living last month that were 3.7 percent higher overall than a year earlier. That means inflation accelerated from its 3.4 percent rate in August and marked highest surge in five months.

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