Wall Street falls as hot inflation revives rate hike fears

Wall Street closed lower on Tuesday, November 10, with the Nasdaq suffering the biggest losses, as higher-than-expected US inflation data reignited fears about Federal Reserve interest rate hikes. The October consumer price index rose 0.4% monthly, exceeding forecasts of 0.3%, while core inflation also beat estimates, boosting expectations of a December rate increase. The 10-year Treasury yield approached 5%, pressuring stocks, especially technology shares. Nvidia came under pressure, while AMD and Broadcom moved higher. Oil prices fell on reduced concerns about military escalation in the Middle East.