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U.S. stocks skidded lower Wednesday, as a reading of consumer inflation rose in October to the highest level since 1990, at least partly driven by supply-chain disruptions in the wake of the COVID-19 pandmeic and strong consumer demand. The Nasdaq Composite Index COMP, -1.66% fell 1.7% to 15,623, marking the sharpest one-day decline since Oct. 4 when the technology-laden index fell more than 2%.
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