10-year Treasury yield jumps as September core inflation comes in hotter than expected
Investors priced in fewer rate cuts as core inflation ran hotter than expected, lifting yields and pressuring rate-sensitive stocks, analysts said.
- On Wednesday, the Nasdaq dropped 1 percent to 26,934.74 and the S&P 500 declined 0.8 percent to 7,746.29 following negative market reaction to inflation data.
- U.S. consumer costs rose 3.7% last month versus a year earlier, accelerating from 3.4% in August and exceeding the 3.6% economists expected. The 10-year Treasury yield jumped to 5.23%.
- Traders now see a 39% chance the Federal Reserve will raise rates at its next meeting in two weeks, up from 22% probability a day earlier, according to CME Group data.
- Bank of America fell 6.3% after reporting weaker third-quarter profit and revenue, compounded by a $1.2 billion U.S. Treasury Department fine. BlackRock rose 0.5% on stronger earnings.
- Despite inflation concerns, Vanguard Senior Economist Adam Schickling said inflation should slow as Americans become more price-sensitive, though "patience will be required." Signals suggest the U.S. economy is still growing.
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109 Articles
Clarin
Independent EspañolShares in the US suffered their worst fall since July, pressured by rising inflation and bond yields. The S&P 500 fell 1.1%, the Nasdaq 1.9%. The rise in crude prices and economic concerns boosted bond yields. AI and technology companies led losses on Wall Street.
Stocks Had a Rough Day After Inflation Report
US stocks dropped to their west day since July on Wednesday after the release of the latest government data on inflation. The S&P 500 fell 86.51 points, or 1.1%, to 7,718.94 for its fifth loss in the six days since setting its all-time high. The Dow...
The Korea Times
US stocks drop to their worst day since July as inflation worsens
NEW YORK — U.S. stocks dropped to their worst day since July on Wednesday following the latest signal that inflation is getting worse. The S&P 500 sank 1.1 percent for a fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average fell 48 points, or 0.1 percent, and the Nasdaq composite slid 1.9 percent as stocks in the artificial-intelligence industry led the way lower. Stocks felt pressure from rising yields in …
Wall Street operates down this Wednesday, led by Nasdaq, after the release of September inflation data that continue to rise and press the securities market again. All this occurs during the corporate balance sheet season.
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