S&P 500 futures fall sharply after hotter-than-expected October CPI

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S&P 500 futures fall sharply after hotter-than-expected October CPI

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Nasdaq S&P 500 Dow Jones

S&P 500 futures fell sharply on Tuesday after October inflation came in hotter than expected. The reading strengthened expectations that the Federal Reserve will keep interest rates higher for longer.

S&P 500 futures fell sharply on Tuesday after a hotter-than-expected inflation reading. The reading strengthened expectations that the Federal Reserve will keep interest rates higher for longer.

Consumer prices rise faster than forecast

A Labor Department report showed the Consumer Price Index rose 0.4% on a monthly basis, against estimates of a 0.3% rise from economists polled by Reuters.

Excluding volatile food and energy components, core CPI increased 0.3% in October, above expectations of a 0.2% gain.

Nasdaq 100 futures drop most

At 08:32 a.m. ET, S&P 500 E-minis were down 26.25 points, or 0.35%.

Nasdaq 100 E-minis fell further, down 256.5 points, or 0.92%.

Dow E-minis moved the other way, up 46 points, or 0.09%.

Source: Reuters via Investing.com

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