Wall Street falls as Nasdaq leads losses on hot inflation data

Wall Street fell on Tuesday, reversing Monday's strong recovery, after the October US inflation report came in worse than expected, raising expectations of Federal Reserve interest rate hikes. The Nasdaq led losses, dropping 0.74% to 25,065.87 points. The Dow Jones fell 0.30% to 52,233.32 points, and the S&P 500 declined 0.38% to 7,521.11 points. The disappointing inflation data strengthens the case for the Fed to continue tightening monetary policy, potentially slowing economic growth and pressuring equity valuations further.