US April Inflation Hits 3-Year High, US Stocks Fall in Early Trading

(New York, May 12, Comprehensive Foreign Report) The Iran war pushed up gasoline prices, leading U.S. consumer inflation in April to a three-year high, causing major Wall Street stock indices to fall in early trading today.

According to Agence France-Presse, the U.S. Consumer Price Index (CPI) in April rose by 3.8% year-on-year, higher than the 3.3% in March.

This report comes as the conflict between the U.S. and Iran has continued for two and a half months, with both sides refusing to back down and repeatedly threatening to resume hostilities, although it currently appears neither side wishes to return to full-scale warfare.

Approximately 15 minutes after the market opened today, the Dow Jones Industrial Average fell 0.5%, to 49458.97 points.

The S&P 500 index fell 0.4%, to 7384.74 points.

The technology-heavy Nasdaq Composite Index dropped 0.5%, to 26135.22 points.

Both the S&P 500 and Nasdaq closed at historical highs yesterday. (Compiled by: Yang Chao-yen) 1150512

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