New York (Reuters) – US shares ended sharply lower on Wednesday, with Nasdaq down more than 3% and Dow dropped for the fifth day in a row after US inflation data did not facilitate much investor concerns over the prospects of interest and economic rates.

Benchmark S&P 500 lost 1.7% and now dropped 18% from a closed record of January 3.

The Monthly Consumer Price Index Report (CPI) of the Department of Manpower recommends that inflation may have peaked in April but it is likely to remain strong enough to keep the federal reserve foot on the brakes to pamper demand.

CPI increased 0.3% last month, the smallest profit since last August, while economists surveyed by Reuters estimated that consumer prices would increase 0.2% in April.

That does not eliminate the idea that there are more things in terms of curbing inflation,” said Quincy Krosby, Head of Equity Strategy at LPL Financial (Nasdaq: LPLA) in Charlotte, North Carolina.

The market is trying to understand whether we will also see the withdrawal of growth more than expected” as the level of fed increase, he said.

Apple shares (Nasdaq: AAPL) fell 5.2% and are the biggest weight of the Nasdaq and S&P 500 index.

There are many focuss at this time on Apple,” Krosby said. “Considering the weight, Apple is Bellweter for the market from many perspectives.”

Investor’s concern about whether Fed will continue to raise interest rates aggressively has reached a very difficult growth stock. The discretionary sector and consumer technology fell by about 3%, the leading S&P 500 sector decline.

Dow Jones Industrial Average fell 326.63 points, or 1.02%, to 31,834.11, S&P 500 lost 65.87 points, or 1.65%, to 3,935.18 and Nasdaq composite fell 373.44 points, or 3 , 18%, to 11,364.24.

The decline in five days Dow was the longest defeat since mid -February.

Energy stocks ended higher and helped limit some decreased S&P 500 and Dow. Exxon car Corp shares (Nyse: XOM) rose 2.1%.

The value outperforms stock growth in general. The S&P growth index fell 2.8% on that day versus a decline of 0.5% in the S&P value index.

Investors really want to see more data about Thursday inflation, when the data index data index of the U.S. due date.

Stocks have fallen this year after levels of level, as well as the latest Ukraine war and locking Coronavirus in China.

Coinbase (Nasdaq: Coin) Global Inc. Glide 26.4% after the first quarter income missed in the midst of turmoil in the global market that has curled investor tastes for risk assets.

Volume in U.S. exchange was 15.38 billion shares, compared to an average of 12.75 billion for the full session for the last 20 trading days.

Decreased problems exceed the advanced amount in Nyse with a ratio of 2,16-to-1; In Nasdaq, the 3,70-to-1 ratio supports Decliners.

S&P 500 posted 1 Highest 52-Sunday New and 67 New New; Nasdaq Composite records the 10 highest new and 1,221 new new.