Mumbai, Feb. 13 -- The Nasdaq inched up 6.09 points or less than a tenth of a% to 19,649.95 after tumbling by as much as 1.2%. The Dow slid 225.09 points or 0.5% to 44,368.56, while the S&P 500 fell 16.53 points or 0.3% to 6,051.97.

The Labor Department reported that the consumer price index rose by 0.5% in January, up from 0.4% in December. This rise was partly driven by a 1.1% surge in energy prices, following a 2.4% jump in December. Excluding energy and a 0.4% increase in food prices, core consumer prices rose by 0.4% in January, up from 0.2% in December. The annual core inflation rate also ticked up to 3.3% in January from 3.2% in December.

Inflation data sparked speculation the Fed will hold rates longer. Powell said the Fed could...