U.S. dollar dives, Wall Street jumps as CPI hits 8.5%, Dow Jones gains 535 points

NEW YORK, New York - U.S. stocks rose sharply on Wednesday despite the latest reading that inflation in the United States is still running at 8.5 percent.

The U.S. dollar conversely dropped like a stone

"The Consumer Price Index for All Urban Consumers was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the U.S. Bureau of Labor Statistics reported Wednesday. "Over the la