April 10 (Reuters) - U.S. stock index futures turned
negative on Wednesday after a stronger-than-expected inflation
print tempered market expectations for interest-rate cuts by the
Federal Reserve.
A Labor Department report showed the Consumer Price Index
(CPI) rose 0.4% on a monthly basis in March, compared to the
0.3% increase expected by economists polled by Reuters.
Annually, it increased 3.5%, versus a 3.4% estimated growth.
Excluding volatile food and energy components, the core
figure rose 0.4% month-on-month in March, against expectations
of a 0.3% advance. Annually, it gained 3.8%, versus the
estimated 3.7% increase.
At 8:32 a.m. ET, Dow e-minis were down 330 points,
or 0.84%, S&P 500 e-minis were down 52.25 points, or
0.99%, and Nasdaq 100 e-minis were down 234.5 points, or
1.28%.