Dow Jones: 5647.28 (-57.70)

Wall Street stocks dived yesterday as a series of strong economic readings aggravated recently soothed worries about inflation, sending interest rates higher in the bond market.

The Dow Jones industrial average shed 57.70 points, its biggest drop since the big market downturn in mid-July, to close at 5,647.28.

Declining issues outnumbered advances by more than seven to four on the New York Stock Exchange with 850 up, 1,507 down and 832 unchanged.

Broader market measures showed steep losses as well.

Before the markets opened, the commerce department reported that consumer prices rose 0.3% in July. slightly above expectations, as falling energy costs failed to offset price jumps in food and housing.

The inflationary news was compounded by several strong reports on consumer activity.