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(Reuters) -U.S. stock index futures recovered some lost ground on Wednesday after a sharp Wall Street sell-off in the previous session as a hot inflation report further clouded the timing for the Federal Reserve's first interest rate cut this year. Rate-sensitive megacaps like Alphabet , Microsoft, Meta Platforms and chip stocks like Nvidia and Advanced Micro Devices rebounded, up around 1% each in premarket trading, as yields on U.S. Treasury notes - an indicator for rate expectations - eased slightly from over two-month highs. Wall Street's main indexes slumped to over one-week lows on Tuesday, with the blue-chip Dow marking its worst day in 11 months, as data showed core consumer prices in January stayed at nearly double the Fed's 2% target, forcing investors to reassess expectations for a rate cut in the first half of 2024.

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