U.S. stocks fall after hotter-than-expected inflation data

AI-generated briefing · First published

Hotter CPI pushed rate-hike odds higher, sending the Nasdaq down 1.9 percent and AI stocks sharply lower.

U.S. stocks slid after Labor Department data showed core CPI up 0.3 percent in September versus 0.2 percent expected, with the annual core rate at 2.6 percent and headline CPI at 3.7 percent, both above forecasts. [1] [2]

The S&P 500 fell 1.1 percent to 7,718, the Nasdaq dropped 1.9 percent to 26,692 and the Dow slipped 0.1 percent to 51,621; traders now price a 37 percent chance of a rate rise this month, up from 22 percent. [2]

AI-linked shares led the decline: Oracle lost 8.8 percent, CoreWeave 15 percent, Nebius 10 percent, Dell 11.4 percent and Hewlett Packard Enterprise 8.2 percent. [2] [3]

Sources

  1. U.S. Stocks Fall on Hot Inflation Report, AI Sell-Off

    WSJ Markets · · Summary only

  2. Wall Street stocks fall after hot inflation data

    RTHK Finance · · Excerpt

  3. The AI trade is splintering as inflation fears rattle hyped-up tech stocks

    MarketWatch · · Summary only

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