(CNBC) — Stocks wavered Tuesday and the Dow fell, reversing earlier gains, after the January consumer price index report showed that inflation grew at higher-than-expected 6.4% annual rate.
The Dow Jones Industrial Average slipped 156.66 points, or 0.46%, to close at 34,089.27. The S&P 500 fell 0.03% to 4,136.13. The Nasdaq Composite recouped earlier losses to close 0.57% higher at 11,960.15, boosted by technology stocks including Tesla and Nvidia, which rose 7.51% and 5.43%, respectively.
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Treasury yields ticked higher, and the yield on the 6-month U.S. Treasury closed at 5.022%, above 5% for the first time since July 2007.
