India, Feb. 12 -- The major U.S. index futures are currently pointing to a sharply lower open on Wednesday, with stocks likely to come under pressure after ending yesterday's choppy trading session narrowly mixed.
The futures plunged following the release of a closely watched Labor Department report showing consumer prices in the U.S. increased by more than expected in the month of January.
The Labor Department said its consumer price index advanced by 0.5 percent in January after climbing by 0.4 percent in December. Economists had expected consumer prices to rise by 0.3 percent.
The report also said the annual rate of consumer price growth accelerated to 3.0 percent in January from 2.9 percent in December, while economists had expected ...