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(Bloomberg) U.S. stocks slumped for a third day and bonds yields climbed after a report showed inflation rose more than forecast, adding to concern that price pressures will stifle a recovery in the world’s biggest economy. The tech-heavy Nasdaq 100 dropped to the lowest since March, while those for the benchmark S&P 500 also declined for a third day. The dollar remained higher, while Treasury yields rose after the consumer price index increased 0.8% from the prior month after a 0.6% gain in March. Excluding the volatile food and energy components, the so-called core CPI rose 0.9% from March. “The CPI data point feeds into a myopic narrative that the US is overheating and the Fed is one step away from tightening,” said Mike Bailey, director of research at FBB Capital Partners. “Bears will feast on this tightening theme in the short term, but my sense is inflation will prove fleeting and markets will revert back to a more bullish view of moderate growth and lower risk of Fed t

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