US Stocks Decline as September CPI Surprises, Raising Fed Rate Hike Fears
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
US stocks fell on Wednesday, led by declines in chipmakers, after stronger-than-expected consumer price data raised concerns that the Federal Reserve may need to lift interest rates more aggressively than anticipated. The selloff was significant, marking the largest drop since July as inflation worries intensified.
Asian stocks are expected to follow suit, tracking the tech-led selloff on Wall Street. The hotter-than-expected inflation data has fueled bets on more aggressive Federal Reserve rate hikes, impacting various markets including cryptocurrencies, with Bitcoin dropping below $82,000.
Sources
Every quote below is verbatim from the article it is attributed to.
“US stocks fell on Wednesday, with chipmakers leading declines after stronger than expected consumer price data raised concerns that the Federal Reserve may need to lift interest rates more aggressively than expected in coming months.”
Bloomberg — Hot September CPI Spurs Fed Rate Hike Fears“Asian stocks were set for declines, tracking a tech-led Wall Street selloff after hotter-than-expected US inflation fueled bets on more aggressive Federal Reserve rate hikes.”
Bloomberg — Asian Stocks to Fall as Hot CPI Sparks US Selloff: Markets Wrap“Stocks fell the most since July as a selloff in chipmakers extended a decline that was fueled by wagers the Federal Reserve will keep lifting interest rates to fight inflation.”
Bloomberg — Stocks Fall on Inflation Woes as Chip Rout Deepens: Markets Wrap“Higher gasoline, shelter, medical care, and apparel prices bite Americans right in their wallets.”
thestreet — Hot September CPI numbers, possible Fed rate hikes spark anxiety for midterm voters“The news could put multiple rate hikes by the Federal Reserve back into play.”
coindesk — U.S. September CPI comes in hot, sending bitcoin sharply lower“Bitcoin dropped below $82,000 after September's core CPI beat forecasts as analysts weigh price targets and an October hike.”
the block — Bitcoin falls below $82,000 as hotter core CPI revives Fed hike concerns
“September CPI hit 3.7%, above forecasts, sending Treasury yields higher and dragging crypto down with stocks.”
decrypt — Bitcoin Falls as Hot Inflation Puts a Fed Hike Back on the Table“An historic turnaround lower in interest rates suggests the possibility that the bond bear market may have run its course.”
coindesk — Live updates: Bitcoin falls back to $82,000 after inflation rises more than forecast
Earlier versions
- Oct 14, 4:51 PM — Bitcoin Falls as September CPI Hits 3.7%, Raising Fed Hike Odds (3/3)