Dow drops 500 points on fears the Fed will be more aggressive to contain surging inflation; European stocks close lower after red hot U.S. inflation data 
U.S. stocks churned lower on Thursday after a key inflation report showed a faster-than-expected rise in prices and boosted the benchmark 10-year Treasury yield above a key level. 
The tech-heavy Nasdaq Composite was down 1.6%, while the S&P 500 shed 1.6% and the Dow Jones Industrial Average lost 483 points, or 1.4%. Stocks were volatile throughout the day, with all three major averages briefly turning positive at one point. 
Thursday’s consumer price index report showed a year-over-year rise of 7.5%, hotter than expected and the largest gain since 1982. 
Investors were focused on the report as a clue to how aggressive the Federal Reserve will be to curb inflation. The 10-year Treasury yield jumped above 2%, with shorter-term yields also moving sharply higher. The benchmark 10-year yield was at 1.51% at the end of December. 
Shares of Dow 30 component Disney jumped 3% after the company reported a quarterly earnings beat and a doubling of revenue from its parks, experiences and consumer products division. 
Coca-Cola shares were up 0.5% after the soft drink giant reported earnings and revenue that beat Wall Street estimates. Cloud stock Twilio rose 3.5% after its quarterly report. 

The pan-European Stoxx 600 closed down by 0.2%, with most sectors and major bourses dipping into the red. Tech stocks, which are typically sensitive to concerns around higher interest rates, were among the worst performers, falling 1.1%. 
Siemens posted a 52% surge in orders that led the German technology group to beat industrial profit expectations for the quarter. Shares jumped almost 5%. 
German food delivery company Delivery Hero plunged more than 30% after announcing weak earnings guidance for 2022. 
Source: CNBC, Investing.com