Michael Nagle/Xinhua via Getty ImagesXinhua News AgencyStock investors are less than pleased with August inflation numbers.Core inflation rose unexpectedly, dashing hopes for a bigger rate cut from the Fed.Traders are now grappling with the reality that rates are staying higher for longer.The stock market is having another outburst.US indexes slumped on Wednesday, with the Dow dropping as much as 600 basis points in the early morning as traders took a mixed-bag of inflation data.The consumer price index for August showed prices grew 2.5% on a yearly basis, per the Bureau of Labor Statistics.