MarketPR
US equity indexes declined after the Bureau of Labor Statistics reported that the consumer price index rose 0.6% in September, a figure that aligned with expectations from a Bloomberg-compiled poll.
The hotter-than-expected data increased the likelihood of three Federal Reserve rate increases by the first quarter, sending mega-cap technology stocks sharply lower.
After midday Wednesday, the Nasdaq Composite dropped 1.8% to 26,714.8, the S&P 500 slid 1.2% to 7,712.5, and the Dow Jones Industrial Average fell 0.4% to 51,472.5.
Core CPI climbed 0.3%, exceeding the 0.2% consensus while matching the previous month's pace.
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