The US markets ended in red on Wednesday as technology shares led declines after stronger-than-expected US inflation data increased risks of further interest rate hike by the US Federal Reserve. The Labor Department report showed US consumer prices rose 0.6% month-on-month in September 2026, accelerating from 0.4% in August, in line with expectations and marking the largest monthly increase since April. It also said the US annual inflation rate accelerated to 3.7% in September 2026, up from 3.4% in each of the previous two months and above market expectations of 3.6%, driven by higher energy prices. On the sectoral front, Computer hardware stocks showed a substantial move to the downside over the course of the session, resulting in a 6.3 percent nosedive by the NYSE Arca Computer Hardware Index. The sharp increase by the price of crude oil also contributed to significant weakness among airline stocks, with the NYSE Arca Airline Index plummeting by 5.1 percent.
Nasdaq fell by 511.51 points or 1.88 percent to 26,692.86, S&P 500 was down by 86.51 points or 1.11 percent to 7,718.94 and Dow Jones Industrial Average decreased by 48.62 points or 0.09 percent to 51,621.48.
About The Author
