Wall Street stocks decline following higher-than-expected US inflation data
Wall Street closed lower after US October inflation data showed a smaller slowdown than expected, raising concerns over further Federal Reserve rate hikes.
Wall Street indices closed lower on Tuesday following the release of US consumer price index data for October. Although consumer price inflation showed a modest slowdown to 0.4% month-on-month, the deceleration fell short of market expectations, sparking concerns among investors over potential further monetary tightening by the Federal Reserve.
The Dow Jones Industrial Average dropped 0.30%, while the tech-heavy Nasdaq Composite fell 0.74% and the S&P 500 lost 0.38%. Analysts noted that persistent inflationary pressures reinforce the likelihood of the US central bank adopting a more restrictive policy stance to curb rising prices.
Sources: Le Figaro, Le Soir.