U.S. stocks are slipping Wednesday after a report said inflation is unexpectedly getting worse for Americans. The S&P 500 was 0.4% lower in morning trading. The Dow Jones Industrial Average was down 256 points,

Wall Street's main indexes hit an over one-week low on Wednesday, as a hotter-than-anticipated inflation reading added to concerns that the Federal Reserve would not cut interest rates anytime soon. U.

Bond traders pushed out bets for the next Federal Reserve interest-rate cut to December, from mid-year previously, as underlying US inflation last month rose by more than forecast.