Stocks Tumble as Inflation Surges Higher Than Expected

• Stocks sink as inflation data exceeds forecasts - Dow falls 422 points, Nasdaq down 0.8%, S&P dips 0.9%

• Consumer prices rise faster than expected in March - CPI up 3.5% annually, 0.4% monthly

• High prices hitting households especially in rents, groceries - Beef costs spike 7.6%, lettuce up 5.8%

• 78% expect Fed to hold rates steady in June, while over half see no July hike

• Further economic data likely to shape rate projections going forward