How major US stock indexes fared Thursday 2/16/2023

Stocks fell on Wall Street, posting their biggest drop in four weeks, after another reading on inflation came in hotter than expected. The S&P 500 fell 1.4% Thursday after inflation at the wholesale level slowed by less than economists forecast last month. Treasury yields rose as traders upped their bets for how high the Federal Reserve will raise rates to combat inflation. Higher rates hurt the economy and weigh on financial markets. A suite of mixed data on the economy also chipped away at hopes that the Fed could get inflation to continue to come down without creating a severe recession.