NEW YORK (AP) — U.S. stocks dropped to their worst day since July. The S&P 500 fell 1.1% Wednesday and had its fifth loss in the six days since setting its all-time high.

The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite sank 1.9%. A report showing inflation accelerated last month raised expectations on Wall Street that the Federal Reserve will raise interest rates.

More expensive borrowing could slow the buildout of AI data centers, and AI stocks were the heaviest weights on the market. Bank of America sank after reporting a weaker profit than analysts expected.