CPI spike hits U.S. stocks, Dow Jones drops 58 points

NEW YORK, New York - U.S. stocks took a beating Thursday after a spike in inflation, as per the latest CPI reading.

In September, the Consumer Price Index for All Urban Consumers rose 0.2 percent, seasonally adjusted, well above the 0.1 percent forecast by analysts surveyed by Bloomberg.

Annually the index rose 2.4 percent, not seasonally adjusted. The index for all items less food and energy increased 0.3