Stocks slide, short-end yields jump on hot CPI print

NEW YORK: US stock futures turned negative and European shares fell further on Friday after higher-than-expected US consumer price data for May fueled inflation concerns and likely kept the Federal Reserve on track to aggressively hike interest rates, according to Reuters.

The consumer price index increased 1.0 percent last month after gaining 0.3 percent in April, the Labor Department said. Economists polled by Reuters had forecast the monthly CPI picking up 0.7 percent.