Wall Street opened mixed on Wednesday, October 14 US consumer prices rose the most since April, raising bond yields and worries that the Federal Reserve will need to raise interest rates to deal with inflation.
Nasdaq Composite dropped 0.65% to 27,027.44, S&P 500 declined 0.38% to 7,775.9 while Dow Jones Industrial Average traded 0.18% up at 51,764.26 by 7 pm IST.
Driven by rising fuel costs, the US consumer price index climbed 0.6% in September from the previous month, while it stood at 3.7% year-on-year according to Bureau of Labor Statistics data, released on Wednesday. After the inflation data released, Treasury yields jumped, with the 10-year Treasury yield climbing more than 7 basis points to 5.29%, while the 30-year Treasury yield up more than 4 basis points at 5.6%.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
