{"id":441867,"date":"2026-11-11T04:00:24","date_gmt":"2026-11-10T21:00:24","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-stock-market-close-hot-cpi-leads-to-a-selloff-441867\/"},"modified":"2026-11-11T04:00:24","modified_gmt":"2026-11-10T21:00:24","slug":"us-stock-market-close-hot-cpi-leads-to-a-selloff","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-stock-market-close-hot-cpi-leads-to-a-selloff-441867\/","title":{"rendered":"US stock market close: Hot CPI leads to a selloff"},"content":{"rendered":"<div>\n<p>US equity futures were flat ahead of the CPI report but plunged afterwards. Fed Governor Waller set the stage for a drop when he said a reading of +0.3% on core inflation would make him consider at 50 basis point hike in December.<\/p>\n<p>So when CPI was +0.3% with some caveats that could have made it higher (like a -1.2% m\/m drop in used car prices) that sent a shudder through the market. US 2-year yields jump 18 bps and 10s rose above above 5%. In turn, stock markets were under pressure.<\/p>\n<p>Notably, the selling was mostly contained to tech as the AI angst continues. Nvidia was down another 6% as politicians target Nvidia&#8217;s chip sales to China in light of the honeypot revelation. The whole bit feels a bit scripted but that&#8217;s the name of the game in Washington.\u00a0 There were some decent pockets of strength and breadth was relatively balanced. Notably, there was a nice pop when it was revealed that Anthropic already has a full order book for next week&#8217;s $60 billion IPO.<\/p>\n<p>There was a real ebb and flow to the day but the bulls gathered themselves late for a decent close that erased much of the pain.<\/p>\n<p>Closing changes:<\/p>\n<ul>\n<li>S&amp;P 500 -0.4%<\/li>\n<li>Nasdaq Comp -0.7%<\/li>\n<li>DJIA -0.3%<\/li>\n<li>Russell 2000 -0.8%<\/li>\n<li>TSX Comp -0.8%<\/li>\n<\/ul>\n<p>Note that US stock markets are open on Wednesday for Veteran&#8217;s Day but Canadian markets and US bond markets are closed. The lack of activity from US fixed income should keep a lid on volatiltiy but we&#8217;re waiting for earnings from neocloud CoreWeave after the bell so that will be a big driver.<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>US equity futures were flat ahead of the CPI report but plunged afterwards. Fed Governor Waller set the stage for a drop when he said a reading of +0.3% on core inflation&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-441867","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=441867"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441867\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}