US STOCKS-Wall St sells off amid Fed rate hike jitters

martes 17 de mayo de 2016 16:20 GYT

* April consumer prices record biggest gain in over 3 years

* Home Depot falls after results, weighs on Dow, S&P

* AbbVie shares drop on patent concerns for top drug

* Indexes down: Dow 1.02 pct, S&P 0.94 pct, Nasdaq 1.25 pct (Updates with close of U.S. markets)

By Lewis Krauskopf

May 17 (Reuters) - Wall Street sold off on Tuesday as investors boosted their bets on the Federal Reserve raising rates later this year, while Home Depot dragged on indexes following its quarterly report.

U.S. consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose. The data pointed to a steady inflation build-up that could give the Fed ammunition to raise interest rates later this year.

Also on Tuesday, a Fed policymaker said he will push for an interest rate hike in June or July, and two others still see up to three rate increases this year, leaving the door open to a change in monetary policy relatively soon.

Traders now see the probability of a rate hike after the Fed's November meeting at 58 percent, up from roughly 42 percent on Monday, according to the CME FedWatch tool.   Continuación...