Wall Street ends down sharply as inflation data intensifies investor fears

The Dow Jones Industrial Average fell 882.47 points, or 2.73%, to 31,395.72

US stocks ended down sharply on Friday and posted their biggest weekly percentage declines since January as a steeper-than-expected rise in US consumer prices in May fueled investor worries about more aggressive interest rate hikes by the Federal Reserve.

Tech and growth stocks, whose valuations rely more heavily on future cash flows, led the decline. Microsoft Corp and Apple Inc were among the biggest weights on the S&P 500 and Nasdaq.

Following the inflation report, benchmark 10-year US Treasury yields reached 3.152%, the highest since May 9.

The US Labor Department's report showed the consumer price index (CPI) increased 1.0% last month after