Wall Street's main indexes hit an over one-week low on Wednesday, as a hotter-than-anticipated inflation reading added to concerns that the Federal Reserve would not cut interest rates anytime soon. U.

Bond traders pushed out bets for the next Federal Reserve interest-rate cut to December, from mid-year previously, as underlying US inflation last month rose by more than forecast.

Markets took a sharp downward turn on Wall Street after U.S. government data Wednesday showed that inflation accelerated last month. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq all fell at least 1% less than an hour before the opening bell.