NewsNovo
Stocks declined on Wednesday as September inflation data exceeded analyst forecasts and geopolitical tensions in the Strait of Hormuz intensified.
The Dow Jones Industrial Average fell 0.09%, while the S&P 500 dropped 1.10%.
The tech-heavy Nasdaq Composite underperformed both indices, plunging 1.88% as artificial intelligence-related stocks continued to weigh on the market.
The Bureau of Labor Statistics reported that inflation gained 0.6% last month, with the annual figure standing at 3.7%, surpassing the 3.6% expected by analysts.
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