US stocks slip as hotter CPI and Iran tensions revive rate fears

CPI hits a three year high as markets reprice rates

Wall Street edged lower as hotter than expected U.S. inflation and ongoing Middle East tensions weighed on investor sentiment. With CPI at a three-year high, traders are increasingly pricing in the Federal Reserve keeping rates steady for longer. While strong earnings offered some support, the inflation shock and geopolitical risk kept markets cautious.