Markets took a sharp downward turn on Wall Street after U.S. government data Wednesday showed that inflation accelerated last month. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq all fell at least 1% less than an hour before the opening bell.

The Dow Jones Industrial Average (DJIA) dropped today alongside the release of the January Consumer Price Index (CPI) report. That’s due to

Most U.S. stocks fell Wednesday after a report showed inflation is unexpectedly worsening for Americans. The Standard & Poor's 500 dropped 0.3%, though it had been on track for a much worse loss of 1.