Shares of retailers and other consumer companies fell as traders hedged their bets on the implications of rising inflation.
The Labor Department said last month's consumer-price index increased 5.4% from a year ago, the highest 12-month rate since August 2008.
PepsiCo boosted its revenue projection as it posted higher profit and sales for the recent quarter.
The inflation data and a lackluster 30-year bond auction spurred Treasury yields higher, a development that could lead to higher mortgage rates.
The SPDR S&P Home Builder exchange-traded fund, which tracks the price of a basket of home builders, fell sharply and is more than 10% from recent highs.
Norwegian Cruise Line Holdings sued Florida's surgeon general, challenging the state's barring of businesses from requiring proof of Covid-19 vaccination.
Shares of Norwegian and other cruise lines such as Carnival fell sharply, amid fears that the Delta variant of Covid 19 will continue to wreak havoc with consumers' travel plans.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-13-21 1736ET
