US stock indices decline after sustaining heavy losses

US stock indices fell on Wednesday after Dow Jones marked the worst daily performance in two years yesterday following inflation data. 

Earlier US inflation data showed consumer prices rose 8.3% in August, beating estimates of 8.1%, while still below 8.5% in the previous reading.

Core prices, excluding food and energy, rose 6.3%, above estimates of 6.1%, and above the previous reading's 5.9% increase.

US producer prices fell 0.1% in August m/m as expected, improving from July's 0.5% drop.

Core prices, excluding food and energy, rose 0.4%, beating estimates of 0.3%, and up from 0.2% in the previous reading.

Dow Jones shed 0.3%, or 100 points to 31,002 as of 14:30 GMT, while S&P 500 slipped 0.2% to 3923, as NASDAQ inched down 0.1% to 11,626.