Stocks finished slightly down on Wall Street on Tuesday as investors analysed new data indicating some hints that inflation fell slightly in March, though it remained at its highest level in 40 years overall.

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The S&P 500 index dropped 0.3% after rising 1.3% earlier in the day. The decline extended the benchmark index’s losing streak to a third day, highlighting investors’ concerns about the potential economic consequences of the Federal Reserve’s more aggressive approach to high inflation. After losing early gains, the Dow Jones Industrial Average and the Nasdaq composite both dipped 0.3%.

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The indexes initially rallied following the release of the report, which showed inflation last month was again at its highest level in generations, driven by soaring gasoline prices in particular. Still, the reading was relatively close to economists’ expectations.

The S&P 500 fell 15.08 points to 4,397.45. The Dow fell 87.72 points to 34,220.36, and the Nasdaq lost 40.38 points to 13,371.57. Smaller company stocks held up better than the broader market. The Russell 2000 rose 6.61 points, or 0.3%, to 1,986.94.

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Stocks in recent days have been trading in the opposite direction of Treasury yields, which have climbed to their highest levels since well before the pandemic. Yields jumped as investors brace for the Federal Reserve to hike short-term rates at a faster pace than typical and to aggressively pare its trove of bonds, whose buildup helped keep longer-term rates low.

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But Treasury yields pulled back on Tuesday following the inflation report. The 10-year yield slid to 2.72% from 2.77% late Monday. It was as high as 2.83% overnight, before the inflation report’s release. The 10-year yield nevertheless remains well above the 1.51% level where it began the year.

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The price of U.S. crude oil climbed 6.7% to settle at $100.60, keeping the pressure on high inflation. Brent crude, the international standard, rose 6.3% to settle at $104.64.

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On Tuesday, technology stocks were among the biggest drags on S&P 500, along with health care and financial companies. Microsoft fell 1.1%, Pfizer lost 1.5% and Wells Fargo slid 1.8%. Energy companies and retailers were among the sectors that notched gains. Marathon Oil rose 4.2% and Ross Stores rose 2.5%.