Wall Street Opens Lower as Hot Inflation Data Boosts Rate-Hike Bets
US stock indexes opened lower after hotter inflation data raised market bets on a Federal Reserve rate hike in October. Source: Reuters.
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what happened
Wall Street's main indexes opened lower on Wednesday after an inflation report came in hotter than expected. According to Reuters, the Consumer Price Index rose 3.7% year on year last month, above the 3.6% economists had forecast, and gained 0.6% month on month, in line with estimates.
Traders lifted their bets on a quarter-point Fed hike in October to a 46% chance from 21.6% before the data, according to LSEG-compiled figures. At the open, the Dow Jones fell 0.16%, the S&P 500 dropped 0.40% and the Nasdaq Composite lost 0.63%. Bank of America fell 7.3% in premarket trading after its third-quarter profit declined and it set aside $1.2 billion for regulatory fines. Intel slid 2.3%.
Brent crude also held above $100 a barrel after two vessels were struck in the Strait of Hormuz.
why it matters
Higher odds of a rate increase keep the market focused on upcoming inflation readings and Fed commentary. For equities, this adds pressure on valuations, especially for companies reliant on cheap financing, while banks show mixed reactions to the earnings season.
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- Wall St set for lower open as hot inflation data fuels rate-hike bets — Newsmetry API, 14 October 2026 at 13:17 UTC
- Wall St opens lower after hot CPI data fuels rate-hike bets — Newsmetry API, 14 October 2026 at 13:32 UTC
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