The three major U.S. stock indexes in New York fell across the board on the 10th (local time), weighed by October inflation readings that topped market expectations.
On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average finished down 157.86 points, or 0.30%, at 52,231.89. The S&P 500 closed 29.01 points, or 0.38%, lower at 7,520.93, and the Nasdaq Composite ended down 187.26 points, or 0.74%, at 25,065.87.
The consumer price index (CPI) for October, released by the U.S. Bureau of Labor Statistics that day, rose 0.4% from the prior month. The pace slowed from September's 0.6% gain but topped the 0.3% consensus. Core CPI, which excludes the more volatile food and energy categories, also rose 0.3% month over month, above the 0.2% forecast.
With inflation pressures still elevated, caution grew over a potential Federal Reserve interest-rate hike in December. Federal Reserve Governor Christopher Waller said in a speech in London, England, that a December hike is likely and added that a 0.5 percentage point increase is possible if price pressures persist.
Nvidia in particular fell more than 5% as concerns over U.S. export controls to China piled onto fallout from controversy surrounding CEO Jensen Huang. With tech-led selling standing out, all three major indexes declined.
