Tech leads US stocks lower after hot inflation report
The Nasdaq Composite fell about 1.9% to 26,692.87 on Wednesday and the S&P 500 lost about 1.1%, as the inflation data revived expectations of another Fed rate rise.
In the Daily Brief of 15 October 2026
Filed under Markets
US equities closed lower on Wednesday 14 October after the September consumer price report came in above forecasts. Investing.com reported that the Nasdaq Composite slumped 1.9% to 26,692.87. Xinhua put the S&P 500 down 86.51 points, or 1.11%, at 7,718.94. Reports of the exact closing levels differ slightly between outlets.
Government bond yields rose sharply after the release. Xinhua reported that the 10-year Treasury yield briefly climbed above 5.32% before easing back during the session. Gold also fell, with Reuters reporting a drop of about 1.6% on the day.
Reports attributed the equity losses to a repricing of Federal Reserve policy: higher energy costs and a hotter inflation print raised the odds of a further increase in interest rates.