Wall St. closes lower in broader sell-off fuelled by inflation jitters

On Tuesday, all three key indices of Wall St. had winded down the session in a red sea of Nile with benchmark S&P 500 reporting nearly a 1 per cent decline for second straight session in a row, tumbling to a nearly one-month low, as a steep hike in commodity prices coupled with a chronic labour shortage had ratcheted up frets that a near-term inflation-surge could metamorphosize a longer-term increase in inflation indicators, which might eventually prompt the US Federal Reserve to taper off its monthly bond repurchase program alongside to adopt a relatively hawkish monetary policy.