U.S. stock indexes gave up their early gains and government-bond yields declined, as investors pondered how the Federal Reserve will act to tame inflation, which rose at the fastest annual pace in four decades in March.
The Dow Jones Industrial Average fell about 0.3%, or more than 80 points, in 4 p.m. trading, while the S&P 500 and the technology-heavy Nasdaq Composite also both lost roughly 0.3% each. That was a retreat from a morning that initially featured bullish trading, with the S&P at one point up 1.3% on the day.
