US stocks fall as inflation rises, Fed signals possible 50-basis-point rate hike

The US stock market opened sharply lower on Tuesday, November 10, after inflation data for October surpassed forecasts, reviving worries that the Federal Reserve could increase interest rates again and disrupt a tentative recovery in equities. Major indexes lost ground following the opening bell, reversing gains from the previous session’s rally. The S&P 500 declined 0.49% to 7,513.09, while the Dow Jones Industrial Average dropped 226 points, or 0.43%, to 52,163.21. The technology-heavy Nasdaq Composite posted a larger loss, falling 0.81% to 25,047.45 as tech stocks faced renewed pressure. Tuesday’s losses followed a broad rally on Monday, when easing oil prices contributed to a 2.35% gain for the S&P 500 and sent the Dow up by more than 1,100 points.

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