U.S. stocks drop on rate hike worries


(Updates to reflect Nasdaq down 2 percent) By Vivian Chu NEW YORK, April 29 (Reuters) - U.S. stocks sank on Thursday afternoon, led lower by technology stocks, after a surprising jump in a key inflation gauge sparked fears the Federal Reserve would raise interest rates sooner than expected. Concerns over higher rates overshadowed several strong earnings reports. The Dow Jones industrial average fell 85.93 points, or 0.83 percent, to 10,256.67. The Standard & Poor's 500 Index gave ...

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