Wall Street declines after inflation data
US stock indices declined on Thursday amid concerns about a tighter monetary policy by the Federal Reserve following inflation data. US consumer prices rose 8.2% in September, beating estimates of 8.1%, and less than 8.3% in the previous reading. Core prices, excluding food and energy, rose 6.6%, also above estimates of 6.5%, and above the previous reading's 6.3%.
- Core consumer prices rose 0.6% on a monthly basis, up from 0.4% in August.
- US unemployment claims jumped to 228 thousand in the week ending October 8 from 219 thousand in the previous reading, while analysts expected 225 thousand.
- Dow Jones fell 0.7%, or 206 points to 29,004, while S&P 500 shed 1%, or 36 points to 3,540, as NASDAQ declined 1.4%, or 145 points to 10,275.