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Stocks fall, yields rise as inflation data comes in hotter than expected

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Consumer price data showed a 0.4% inflation rate for September, higher than the 0.3% expected

The stock market declined on October 12 as the US BLS released new data showing prices rose faster than expected.Stocks fell in the US today as newly released inflation data overshot expectations. The Dow Jones Industrial Average fell by 173.73 points , to 33,631.14. The S&P 500 declined by 27.34 points , ending the day at 4,349.61. The tech-heavy Nasdaq index lost 85.46 points , declining to 13,574.22.

US Treasury yields rose as traders digested the new inflation data. The 10-year note gained 0.102 points, reaching 4.699%. The two-year gained 0.066 points, rising to 5.071%. In the forex market, the US Dollar Index rose 0.76 points, to 106.58. The euro fell 0.85% to $1.0528. The yen fell 0.47%, causing the number of yen needed to buy a dollar to rise to 149.7720. Many traders believe that Japanese monetary authorities will intervene if this number rises above 150.

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