Stocks drop, dollar strengthens as markets eye U.S. inflation data

Stock prices dipped as the dollar strengthened on Thursday, ahead of U.S. inflation data that will influence the Federal Reserve’s interest rate plans.Stella Qiu and Alun John for Reuters:Sky-high inflation has caused the Fed to raise rates aggressively this year, a process that has boosted the dollar and caused U.S. Treasuries and shares around the world to sell off sharply.
The release of U.S. CPI data, due at 1330 GMT, is the main event of the day for markets as investors try to positio