Most U.S. stocks fell Wednesday after a report showed inflation is unexpectedly worsening for Americans. The S&P 500 dropped 0.3%, though it had been on track for a much worse loss of 1.1% at the start of trading.

Inflation data, Powell testimony, a 10-year auction and potentially new tariffs will keep Wall Street on alert Wednesday.

Equities sold off after a hot reading on consumer price inflation pushed back rate cuts to autumn or year-end.