Wall Street falls after inflation, jobless claims data

by Lisa Pauline Mattackal and Pranav Kashyap, Reuters

Wall Street opened lower on Thursday as hotter-than-expected September inflation data reinforced expectations of a 25-basis-point rate hike by the Federal Reserve at its upcoming meeting.

The closely watched Consumer Price Index rose 0.2% on a monthly basis and 2.4% on an annual basis, with both figures being slightly higher than estimated by economists Reuters polled.

The core figure, which excludes volatile food and energy prices, rose 3.3% year-over-year, versus an estimated 2.3%.

The Dow Jones Industrial Average (.DJI), opens new tab fell 75.96 points, or 0.18%, to 42,433.87, the S&P 500 (.SPX), opens new tab lost 15.88 points, or 0.27%, to 5,776.16 and the Nasdaq Composite (.IXIC), opens new tab lost 69.40 points, or 0.38%, to 18,222.22.

 

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