us stock index futures slipped on wednesday after seeing the worst daily losses in two years as investors reeled from disappointing consumer inflation data markets will get another data update with producer price inflation data due ahead of the open in a dramatic session on tuesday major indexes logged the biggest daily percentage falls since june 11 2020 the dow jones industrial average tumbled 127637 points or 39 to 3110497 the sp 500 fell 17772 points or 43 to 393269 and the nasdaq composite slumped 63284 points or 52 to close at 1163357 investors were seeking some equilibrium ahead of data on august producer price inflation due at 830 am eastern which are expected to show a drop of 01 following last months decline of 05 in a blow to investors who had been hoping for an easing in high inflation tuesdays data showed the us cpi rising 01 in august and the annual rate slowing to 83 against expectations for a monthly fall of 01 and a yearoveryear rate of 8 the core inflation rate also climbed by more than expected investors dumped stocks on worries sticky inflation could force the federal reserve to keep its aggressive tightening of monetary policy for longer some have predicted the federal reserve could next week raise interest rates by as much as 1 us inflation is not coming down in a hurry and despite some encouraging signs elsewhere it has given hawkish price action in rates globally another lease of life said an ing team led by antoine bouvet senior rates strategist this means flatter curves and higher yields 10y treasurys are now within touching distance of their 347 june peak and we do not see much that would stop it from beating that level said bouvet the yield on the 10year treasury note was up 48 basis points at 3462 while that of the 2year note was up 68 basis points to 3813 tuesdays wall street selloff spread to asia where the nikkei 225 index led losses with a 27 drop the yen bounced off a low of yen14494 after the nikkei newspaper said the bank of japan had conducted a check on rates that some see as a precursor to intervention european stocks were modestly lower