Oil Prices Surge Above $106 After Deadly Saudi Airport Attack 
Gold Prices Mixed Ahead of US Inflation Data and Fed Rate Outlook 
IMF Warns US Debt Crisis Needs Fiscal Action, Urges China to Boost Consumption 
Gold Prices Rebound as Dollar Weakens Ahead of US Inflation Data 
Container Ship Sinks in Strait of Hormuz as Iran Attacks Escalate 
Asian Stocks Plunge as AI Chip Selloff Hits South Korea and Japan 
S&P 500 Futures Rise Ahead of US Inflation Data and Bank Earnings 
Asian Stocks Fall as Oil Prices Rise Ahead of US CPI Data 
Oil Prices Mixed as Russia Diesel Deal and Houthi Attacks Raise Supply Concerns 
IMF Maintains 2027 Global Growth Forecast at 3.4% Amid Rising Risks 
Oil Prices Fall as Russia Signals Higher Diesel Exports 
US Inflation Surges in September, Raising Fed Rate Hike Bets 
Italy’s Meloni Warns US-Russia Diesel Deal Could Weaken Ukraine Sanctions 
US Dollar Hits 18-Month High as Inflation Fuels Fed Rate Hike Bets 
Gaza Olive Harvest Collapses as War Destroys Farmland 
China Resumes US Soybean Purchases After Trump-Xi Summit 
Philippines Current Account Deficit Seen at $19.1 Billion in 2026 
Add as a preferred source on Google
Wall Street stocks closed lower on Wednesday as stronger-than-expected US inflation data revived expectations of a Federal Reserve interest rate hike, sending Treasury yields higher and pressuring technology shares.
The S&P 500 declined 1.1% to 7,723.59, while the Nasdaq Composite dropped 1.9% to 26,692.87. The Dow Jones Industrial Average slipped 0.1% to 51,622.32, supported by healthcare stocks including Amgen, Merck, and UnitedHealth, which gained between 3.2% and 4.7%.
According to the Bureau of Labor Statistics, September's consumer price index (CPI) increased 0.6% month-over-month, while core inflation rose 0.3%, exceeding expectations of 0.2%. Annual headline inflation accelerated to 3.7%, with core inflation reaching 2.6%.
Gasoline prices surged 9.1% during September, accounting for more than half of the monthly headline CPI increase. Energy prices climbed 20.4% annually.
The hotter inflation report pushed the probability of a 25-basis-point Federal Reserve rate hike in October to approximately 47%, up from 22%, according to CME FedWatch.
US Treasury yields initially surged following the data. The two-year yield reached 4.948%, while the benchmark 10-year yield climbed to 5.335%. However, both retreated later, with the 10-year yield falling to 5.188%.
Corporate earnings also influenced market sentiment. Bank of America shares fell nearly 5% after reporting lower quarterly profits linked to $1.2 billion in provisions for regulatory penalties. Morgan Stanley declined 2.7% despite stronger earnings, while BlackRock gained 0.8% following improved profitability.
Technology stocks faced additional pressure as investors questioned the sustainability of artificial intelligence infrastructure spending. CoreWeave plunged 15.5%, while Nebius dropped more than 10% after Gartner warned that 80% of specialized AI cloud providers could lose their independence by 2030.
Meanwhile, ASML shares declined nearly 4% despite raising its annual outlook amid robust AI chip demand.
Oil prices advanced as escalating Middle East tensions heightened supply disruption concerns. Brent crude rose 0.3% to $106.03 per barrel, while West Texas Intermediate gained 1.1% to $95.13.
Continued attacks involving Yemen's Houthis and Saudi-led forces reinforced concerns about global energy supplies, adding further uncertainty to inflation expectations and the outlook for US financial markets.
