Stocks Slide as Inflation Data Fans Rate Fears; Tech Leads Declines
MarketsFN Team
U.S. equities retreated Wednesday as September's core CPI rose 0.3% MoM, exceeding forecasts, reinforcing expectations of prolonged Fed tightening. The Nasdaq 100 bore the brunt with a 2.02% drop, while the Dow narrowly avoided losses, slipping just 0.09%.
🇺🇸 US Session Overview
Tech stocks led the selloff after the inflation print reignited concerns about higher-for-longer rates, with the S&P 500 falling 1.11% to 7,718.94. The Russell 2000 (-1.93%) underperformed as small caps faced pressure from rising Treasury yields. Sector-wise, data center stocks slumped after Dell plunged 11% on enterprise AI concerns, while financials showed resilience amid a 15% yield spike in CoreWeave bonds. The Dow's relative stability (-0.09%) reflected defensive rotations into healthcare and consumer staples.📅 Economic Calendar Highlights
September's core CPI rose 2.6% YoY (vs. 2.5% expected), while headline inflation accelerated to 3.7% YoY. The monthly 0.6% CPI jump matched forecasts but reflected persistent energy price pressures. China's trade data surprised upside with exports surging 36.3% YoY, though PPI at 5.0% signaled renewed factory-gate inflation risks. Canada's building permits surged 8.8% MoM, far exceeding estimates.💱 FX & Commodities
The dollar held steady with USD/JPY dipping 0.15% to 158.28 despite Treasury yield gains. Gold tumbled 1.32% to $4,122.20 as real rates climbed, while silver crashed 5.72% amid industrial demand concerns. Oil edged higher with WTI up 1.02% to $95.10 after a container ship sinking in the Strait of Hormuz raised supply risks. Cryptos mirrored tech's weakness, with Bitcoin down 1.49%.Attention turns to Thursday's U.S. PPI and initial jobless claims for further rate clues, while Asian markets will digest China's mixed inflation data and surging trade surplus. Energy markets remain on edge after the Hormuz incident.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,718.94 | ▼ -86.51 | ▼ -1.11% |
| Nasdaq 100 | 29,950.82 | ▼ -618.66 | ▼ -2.02% |
| Dow Jones | 51,621.48 | ▼ -48.62 | ▼ -0.09% |
| Russell 2000 | 2,729.53 | ▼ -53.84 | ▼ -1.93% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1159 | ▼ -0.01% |
| GBP/USD | 1.3192 | ▼ -0.14% |
| USD/JPY | 158.28 | ▼ -0.15% |
| AUD/USD | 0.6974 | ▲ +0.26% |
| USD/CHF | 0.8348 | ▲ +0.09% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,122.20 | ▼ -1.32% |
| Silver (XAG/USD) | 55.78 | ▼ -5.72% |
| Crude Oil (WTI) | 95.10 | ▲ +1.02% |
| Brent Oil | 106.00 | ▲ +0.29% |
| Natural Gas | 3.25 | ▼ -0.88% |
| Bitcoin | 81,853.99 | ▼ -1.49% |
| Ethereum | 2,430.02 | ▼ -2.67% |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 12:30 | USD | Core CPI (MoM) (Sep) | 🔴🔴🔴 | 0.3% | 0.2% | 0.3% |
| 12:30 | USD | CPI (YoY) (Sep) | 🔴🔴🔴 | 3.7% | 3.6% | 3.4% |
| 12:30 | USD | CPI (MoM) (Sep) | 🔴🔴🔴 | 0.6% | 0.6% | 0.4% |
| 01:30 | CNY | CPI (YoY) (Sep) | 🟡🟡 | 0.9% | 1.0% | 0.8% |
| 01:30 | CNY | CPI (MoM) (Sep) | 🟡🟡 | 0.2% | 0.3% | 0.4% |
| 01:30 | CNY | PPI (YoY) (Sep) | 🟡🟡 | 5.0% | 4.4% | 3.8% |
| 02:30 | CNY | Exports (YoY) (Sep) | 🟡🟡 | 36.3% | 25.5% | 25.0% |
| 02:30 | CNY | Imports (YoY) (Sep) | 🟡🟡 | 31.0% | 24.5% | 28.2% |
| 02:30 | CNY | Trade Balance (USD) (Sep) | 🟡🟡 | 133.53B | 116.80B | 119.09B |
| 06:30 | INR | WPI Inflation (YoY) (Sep) | 🟡🟡 | 11.39% | 10.18% | 9.92% |
| 07:00 | EUR | Spanish CPI (YoY) (Sep) | 🟡🟡 | 4.9% | 4.9% | 4.3% |
| 07:00 | EUR | Spanish HICP (YoY) (Sep) | 🟡🟡 | 5.0% | 5.0% | 4.6% |
| 08:00 | CNY | New Loans (Sep) | 🟡🟡 | 1,080.0B | 1,025.0B | 60.0B |
| 12:30 | USD | Core CPI (YoY) (Sep) | 🟡🟡 | 2.6% | 2.5% | 2.4% |
| 12:30 | CAD | Building Permits (MoM) (Aug) | 🟡🟡 | 8.8% | 2.9% | -15.8% |
| 02:10 | EUR | ECB President Lagarde Speaks | 🟡🟡 | — | ||
| 05:30 | GBP | BoE Gov Bailey Speaks | 🟡🟡 | — | ||
| 06:00 | GBP | BoE MPC Member Pill Speaks | 🟡🟡 | — | ||
| 06:05 | CAD | BoC Gov Macklem Speaks | 🟡🟡 | — | ||
| 08:00 | EUR | ECB's Elderson Speaks | 🟡🟡 | — | ||
| 08:15 | EUR | German Buba Vice President Buch Speaks | 🟡🟡 | — | ||
| 08:30 | EUR | ECB President Lagarde Speaks | 🟡🟡 | — | ||
| 09:00 | USD | IEA Monthly Report | 🟡🟡 | — | ||
| 09:40 | USD | FOMC Member Bowman Speaks | 🟡🟡 | — | ||
| 10:00 | EUR | Euro Summit | 🟡🟡 | — | ||
| 16:15 | EUR | ECB's Schnabel Speaks | 🟡🟡 | — | ||
| 18:00 | USD | Beige Book | 🟡🟡 | — | ||
| 20:30 | USD | API Weekly Crude Oil Stock | 🟡🟡 | — | 1.900M | -2.090M |
Report published: October 14, 2026 — 22:21 CET
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