S&P 500 down 0.90% as hot CPI lifts rate fears
Published on 11/10/2026 at 18:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSInflation weighs on US equities
- The S&P 500 fell 0.90% by 12:00 p.m. ET on November 10, 2026.
- Stronger-than-expected October CPI data lifted expectations for further Federal Reserve tightening.
- Higher Treasury yields put pressure on rate-sensitive and technology stocks.
The S&P 500 was down 0.90% at 12:00 p.m. ET on Tuesday, November 10, equivalent to 6:00 p.m. Berlin time. The intermediate reading followed a strong 2.35% advance on Monday and showed investors giving back part of that rebound as inflation and interest-rate expectations took center stage.
24/7 Wall St. reported the midday index move and attributed the pressure to a hotter inflation reading and rising rate-hike expectations. The 10-year Treasury yield was moving back toward 5%, increasing pressure on equity valuations, particularly for longer-duration growth companies.
Hotter CPI shifts rate outlook
October consumer prices rose 0.4% month over month, above the 0.3% economist forecast, while core CPI increased 0.3% against expectations for 0.2%. The data reinforced concerns that price pressures could remain persistent and make it harder for the Federal Reserve to ease policy.
In a report carried by Reuters via Fidelity, Fed Governor Christopher Waller said the central bank should raise rates by at least 25 basis points in December and that a larger increase could be considered if price pressures accelerated. The report said markets were pricing in an almost 99% chance of a December hike.
Technology shares bear the pressure
The Nasdaq Composite was down 1.33% at the same midday checkpoint, underperforming the broader S&P 500 as higher yields weighed more heavily on technology and other high-multiple shares. The Dow Jones Industrial Average was down 0.75%, indicating that the day's weakness was concentrated more heavily in growth-sensitive areas.
Monday's rally had followed a sharp sell-off in technology stocks and was supported by falling oil prices and renewed buying in chip shares. Tuesday's inflation surprise changed that balance, while investors also continued to monitor company-specific risks in the artificial-intelligence sector and upcoming earnings.
For investors, the session highlighted the market's sensitivity to the interaction between inflation data, Treasury yields and Federal Reserve policy. The S&P 500 remained in an ongoing session at the reported checkpoint, so the midday move should not be treated as a closing result. Further coverage of the index is available on the S&P 500 topic page.
