Dow Jones Falls as Hot CPI Boosts Rate Hike Bets

nikkei.com (Japanese) —

The Dow Jones Industrial Average fell at the opening on November 10, trading 133.18 points lower at 52,256.57, after October U.S. consumer inflation exceeded expectations, raising bets on further interest rate hikes. The October CPI rose 0.4% month-over-month, above the 0.3% forecast, while core CPI also beat estimates at 0.3%. Long-term Treasury yields jumped, with the 10-year yield reaching 4.99%, pressuring stocks. Fed Governor Waller signaled support for a December rate hike, and fed funds futures showed an 85% probability of a 25-basis-point increase. Caterpillar, Nvidia, and Cisco led declines, while Amazon and UnitedHealth gained.


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