International Business Times
2h ago
September CPI Tops Forecasts; Geopolitical Tensions Climb, Stocks Fall
U.S. September CPI rose 3.7% year over year, above the 3.6% expected. The monthly reading climbed 0.6%, with more than half of the increase driven by gasoline prices. The hotter-than-expected inflation data pushed the probability of a Federal Reserve rate hike at its October meeting to almost 35%, touching 49% at one point during the session. All three major U.S. indexes fell, with the Dow Jones Industrial Average down 0.09%, the S&P 500 down 1.10% and the Nasdaq Composite plunging 1.88% as AI-related stocks weighed on the tech-heavy index.