The drop happened after the January Consumer Price Index (CPI) report showed 3.1% year-on-year inflation, faster than analysts' 2.9% forecast.
The lower chance of an imminent rate cut weighed on traditional markets as well. The 10-year U.S. Treasury bond yield advanced 12 basis points, while the S&P 500 equity gauge and the tech-heavy Nasdaq Composite Index declined as much as 2%.
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