(Il Sole 24 Ore Radiocor) - Milano, 10 giu - US shares were trading broadly lower after rising energy costs sent inflation to its highest level in three years.

US consumer prices rose 4.2% in May from the same month a year ago in what was the hottest annual reading since April 2023. On a monthly basis they rose 0.5%. Both were in line with expectations but underlined concerns that the Federal Reserve may have to hike interest rates further down the line to stem prices if the Iran war festers.

US forces resumed strikes against Iran in retaliation for a downed helicopter near the Strait of Hormuz, with Tehran responding by attacking bases in Bahrain, Jordan, and Kuwait.

Iran said it would reassess peace talks with Washington after the strikes while US president Donald Trump said Iran had taken too long to negotiate a peace deal, adding 'now they will have to pay the price!!! At 1726 GMT, the Dow Jones was down 655.31 points, or 1.29%, at 50,216.80 points.

The S&P 500 was 78.62 points, or 1.06%, lower at 7,308.03 points.

The Nasdaq was losing 381.92 points, or 1.49%, at 25,295.87.

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(RADIOCOR) 10-06-26 19:28:11 (0719) 5 NNNN