NEW YORK, April 14 (Xinhua) -- U.S. stocks fell on Thursday, pressured by a momentum in bond yields and lingering concerns over inflation.

       The Dow Jones Industrial Average was down 113.36 points, or 0.33 percent, to 34,451.23. The S&P 500 was down 54.00 points, or 1.21 percent, to 4,392.59. The Nasdaq Composite Index decreased 292.51 points, or 2.14 percent, to 13,351.08.

       Nine of the 11 primary S&P 500 sectors ended in red, with technology and communication services down 2.45 percent and 1.82 percent, respectively, leading the laggards. The energy and the utilities groups eked out modest gains.

       U.S.-listed Chinese companies traded lower with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

       Investors rotated out of high-flying stocks amid a rapid rise in bond yields. The yield on the benchmark U.S. 10-year Treasury bond rose to 2.827 percent on Thursday, reaching its highest point since late 2018, while the yield on the 30-year Treasury note topped 2.9 percent.

       Higher bond yields make future profits less valuable in current terms, a particular headwind for fast-growing tech stocks whose prices reflect expectations for earnings that will flow in years from now.

       Investors continued to assess inflationary pressure. U.S. Labor Department reported Tuesday that the nation's consumer price index, a key gauge of inflation, jumped to a four-decade high in March.

       The report reinforced market expectations that the U.S. Federal Reserve will raise interest rates aggressively in the coming months.

       U.S. equities markets will be closed on Friday in observance of Good Friday. For the holiday-abbreviated trading week, the Dow and S&P 500 slipped 0.8 percent and 2.1 percent, respectively, while tech-heavy Nasdaq shed 2.6 percent.