Dow falls 400 points as stocks suffer worst drop in a month after PPI data, Fed comments

U.S. stocks suffered their worst drop in a month on Thursday after hotter-than-expected data on wholesale prices and talk of more aggressive interest-rate hikes rattled markets. The S&P 500
SPX,
-1.38%
fell 57.19 points, or 1.4%, to 4,090.41. The Dow Jones Industrial Average
DJIA,
-1.26%
shed 431.20 points, or 1.3%, at 33,696.85. The Nasdaq Composite
COMP,
-1.78%
dropped by 214.76 points, or 1.8%, to 11,855.83.