Stocks Slide as Yields Surge on Hot Inflation Data; Oil Extends Drop, Walgreens Gains on CEO Change

Stocks fell as Treasury yields jumped following disappointing 30-year bond auction. Headline CPI rose more than expected in September.

U.S. crude oil futures fell for third straight day, down 0.7% to $82.91. Production, exports, and refinery activity point to loosening of tight oil market.

Walgreens shares rose despite disappointing results as new CEO Tim Wentworth takes over. Shares down 37% in 2023, on pace for worst year since 1973.

Inflation data showed prices remain high. Jobless claims cooler than expected. Rates likely to stay high for foreseeable future.

Nvidia up 297% and Meta up 152% since Oct 2022 S&P 500 low. Tech stock gains helped push index 22% higher over past year.