Stocks Drop as Hot Inflation Data Spurs Treasury Yield Surge
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U.S. stocks ended lower on Thursday after hotter than expected consumer inflation data and a surge in Treasury yields.
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The tech-heavy Nasdaq fell 0.63%, the S&P 500 declined 0.62%, and the Dow dropped 0.51% as yields spiked after the hot CPI print.
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CPI for September came in at +0.4% month-over-month, higher than expectations, indicating the fight against inflation isn't over.
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Delta Air Lines and Walgreens Boots Alliance reported quarterly results, with Delta beating estimates on strong travel demand.
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Major banks like JPMorgan and Citigroup report earnings on Friday, along with UnitedHealth, kicking off big bank earnings.
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