us stock futures retreated on tuesday as the august consumerprice index came in surprisingly hot sending shortterm treasury yields to their highest levels since 2007 while derivatives traders priced in a 20 chance of a 100 basispoint interestrate hike when the fed meets later this month futures for the sp 500 spx were down 71 points or 18 to 4058 nasdaq 100 futures comp were down 308 points or 24 to 12515 and dow jones industrial average djia futures were down 416 points or 13 to 32080 the yield on the twoyear treasury note rose to 3712 its highest level since at least late 2007 fed funds futures a gauge of traders expectations for the path of future fed rate hikes were pricing in an 80 chance of a 75 basis point rate hike from the fed later this month compared to roughly 70 a day earlier meanwhile they were also pricing in a 20 chance of a 100 basis point hike compared to 0 a day earlier the dollar climbed along with treasury yields as the ice us dollar index dxy rose 06 to 10896 while gold gc00 turned lower to trade at 1722 per ounce down 11 the cpi number released tuesday morning showed inflation rose 01 in august compared with expectations for a drop of 01 from a survey of economists by the wall street journal