© Reuters. FILE PHOTO: An investor watches a board showing stock information at a brokerage office in Beijing, China October 8, 2018. REUTERS/Jason Lee/File Photo
By Caroline Valetkevitch
NEW YORK (Reuters) -Global stock market indexes dropped, the hit a 2-1/2-month high and the dollar touched a three-month peak against the yen on Tuesday after data showed U.S. inflation slowed less than expected in January.
The U.S. consumer price index report pushed back market expectations that any interest rate cuts by the Federal Reserve were imminent.
All three major U.S. stock indexes fell more than 1% each, and the posted its biggest daily percentage drop in almost 11 months.
The consumer price index increased 0.3% last month after gaining 0.2% in December, the Labor Department’s Bureau of Labor Statistics said on Tuesday.
Economists polled by Reuters had forecast the CPI gaining 0.2% on the month and rising 2.9% year-on-year.
…
