Stocks Sink as Hot Inflation Data Damps Hopes for Fed Rate Cuts

• US stocks sink as hotter-than-expected inflation data dampens hopes for Fed rate cuts

• Consumer Price Index rose 0.4% month-over-month and 3.5% year-over-year in March, exceeding forecasts

• Treasury yields surge, with 10-year touching 4.5% for first time since 2024 as rate cut bets cool

• Airlines in focus; Delta shares jump on earnings beat amid strong corporate travel demand

• Nvidia weakness persists with stock falling below 50-day moving average, potentially signaling bumpy markets ahead