The three major indexes on Wall Street fell together in early trading as they reflected the release of the U.S. December consumer price index (CPI) and news on corporations' earnings.
As of 10:19 a.m. on the 13th (local time) at the New York Stock Exchange, the Dow Jones Industrial Average was down 371.56 points, or 0.75%, at 49,218.64. The Standard & Poor's (S&P) 500 fell 24.53 points, or 0.35%, to 6,952.74, and the Nasdaq composite was down 73.00 points, or 0.31%, at 23,660.90.
The December CPI, which drew the market's attention, moved largely within the forecast range. According to the Labor Department, the December all-items CPI rose 0.3% from the previous month and 2.7% from a year earlier, both matching market expectations.
However, core CPI, which excludes the more volatile food and energy categories, rose 0.2% from the previous month and 2.6% from a year earlier, falling short of forecasts. The market had expected core CPI to rise 0.3% on the month and 2.7% on the year.
By sector, moves were mixed. Technology and financials weakened, while energy and utilities were relatively strong.
JPMorgan Chase, which kicked off earnings season, beat market expectations with fourth-quarter revenue of $46.77 billion. Adjusted earnings per share (EPS) also topped estimates at $5.23, compared with the $5 consensus. However, after Jeremy Barnum, JPMorgan chief financial officer (CFO), said the bank could "respond" to President Trump's measure to cap credit card interest rates, the stock fell close to 3%.
Among individual stocks, Intel rose more than 6%. KeyBanc raised its investment rating on Intel to "overweight," citing the memory supercycle and data center demand, and said the shares have more than 30% upside, which is seen as driving the move.
European stocks were mixed. The Euro Stoxx 50 rose 0.03% to 6,018.02, while Britain's FTSE 100 and Germany's DAX fell 0.39% and 0.01%, respectively. France's CAC 40 also lost 0.33%.
Crude prices strengthened as concerns grew over disruptions to Iran's oil supply. West Texas Intermediate (WTI) for February 2026 delivery rose 2.67% from the previous session to $61.09 per barrel.