S&P 500 and Nasdaq close lower on inflation shock

On May 12, the S&P 500 closed down 0.16% at 7,400.96 and Nasdaq fell 0.71% to 26,088.20. The Dow rose 0.11% to 49,760.56, leaving the session mixed, but the key driver was April CPI coming in at 3.8%, above the 3.7% consensus.