US Stocks Fall on Hot Inflation Data; Nvidia Drops 5.4%

US stocks fell Tuesday after October inflation data came in hotter than expected, intensifying expectations of further Federal Reserve rate hikes. Nvidia shares dropped 5.4%, extending losses, while the dollar posted its biggest one-day gain since September. The Dow fell 0.30%, the S&P 500 lost 0.38%, and the Nasdaq declined 0.74%. October CPI rose 0.4% month-over-month, above the 0.3% forecast, though cooling from September's 0.6%. Fed Vice Chair Michelle Bowman said inflation remains elevated but stressed the need to weigh costs of further tightening. Gold fell 2.6%, and oil declined about 1%. Separately, a Urban Institute analysis found 24% of Americans with credit records are delinquent on debts, with credit card balances hitting a record $1.29 trillion. The EIA raised 2027 fuel price forecasts, and New York Fed data showed mortgage delinquency rates at their highest since 2018.