- The U.S. stock market declined on Tuesday following a discouraging report that showed monthly inflation was higher than economists expected, causing the S&P 500 to fall 0.6 percent, the Nasdaq composite to drop 0.8 percent, and the Dow Jones Industrial Average to slide 154 points.
- A key underlying measure of inflation rose by 0.3 percent from the previous month, matching the exact threshold that Federal Reserve Governor Christopher Waller warned could force the central bank to consider a half-percentage-point interest rate hike in December rather than a standard quarter-point increase.
- Yields in the bond market jumped sharply as traders anticipated higher interest rates from the Fed, pushing the yield on the 10-year Treasury up to 4.97 percent from 4.88 percent and increasing borrowing costs for consumer mortgages and business loans.
- Tech stocks tied to the artificial-intelligence boom experienced significant losses under the pressure of rising yields, led by Nvidia's 3.8 percent drop alongside declines in Micron Technology and GE Vernova.
- Oil prices fell despite the broader inflation report, with Brent crude sinking 3.1 percent to $89.67 a barrel after President Donald Trump indicated that the military conflict in Iran is effectively over.
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