CNN  —  US stocks fell sharply Wednesday morning after inflation data for March came in higher than expected. The blue-chip Dow was lower by 519 points, or 1.3%. The S&P 500 lost 1.1% and the Nasdaq Composite fell by 1%. Investors worry this will push back the Fed’s timeline for the rate cuts it has been hinting would come this year. The 10-year Treasury yield, a benchmark for mortgages and loans, soared higher on the news, hovering near 4.5%. This is a developing story and will be updated.