US Stocks Fall as Fed Rate Hike Expectations Intensify

US stocks fell on Tuesday as fresh inflation data fueled expectations of further Federal Reserve interest rate hikes. The Dow, S&P 500, and Nasdaq all declined, with the Nasdaq dropping 0.74%. October's core CPI remained steady at 0.3% month-over-month, while overall CPI rose 0.4%. Following the data, market odds for a 50-basis-point Fed hike in December jumped to 11.8%, and Treasury yields surged. Fed officials signaled hawkish stances, with Governor Christopher Waller advocating for a December hike and possibly 50 basis points. Additionally, Nvidia's shares dropped 5.47%, dragging down major indices.