* MSCI’s global stock gauge down for third straight day
* U.S. Treasury jump on inflation data
NEW YORK, May 12 (Reuters) - U.S. stocks fell again on Wednesday as benchmark Treasury yields jumped after data showed consumer prices unexpectedly rose by the most in nearly 12 years in April, prompting bets on earlier interest rate hikes.
Moments after data showed the U.S. consumer price index jumped 0.8% last month, outpacing a 0.2% forecast, the dollar spiked, only to tumble minutes later to stand little changed.
The gyrations in financial markets underscored concerns among some investors that the Federal Reserve could be wrong in its prediction that inflation pressures in the United States are “transitory”, and that the central bank may have to raise rates sooner than it currently expects to.