Stocks recorded their biggest blown lead in more than a month on Tuesday, as investors debated if the latest rise in the consumer price index could mean peak inflation. The Dow Jones Industrial Average fell around 88 points, or 0.3%, to close near 34,220, according to preliminary figures, after rising 362 points, or 1.1%, at its session high. That marks its biggest blown lead since March 11, according to Dow Jones Market Data. The S&P 500 fell 0.3% after previously rising as much as 1.3%, while the Nasdaq Composite gave up a 2% gain to end 0.3% lower. That’s the biggest erased gains for those two indexes since March 8. Bond yields retreated after U.S. consumer prices rose 1.2% in March, for an 8.5% yearly gain, the fastest pace since January 1982.
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