US Equity Markets End Lower on Renewed Inflation Concerns, Tech Slump

MT Newswires Live10-15

US equity indexes ended lower Wednesday on renewed inflation concerns and a slump in technology stocks.

* The consumer price index jumped 0.6% in September, as expected in a Bloomberg poll, from 0.4% in August, according to the Bureau of Labor Statistics. Core CPI climbed 0.3%, above the 0.2% consensus.

* Overall and core CPI year-over-year accelerated to 3.7% and 2.6%, respectively, from 3.4% and 2.4%, and beat market expectations.

* November West Texas Intermediate crude oil rose $1.01 to settle at $95.15 per barrel, while December Brent crude, the global benchmark, was last seen up $0.34 at $106.03.

* Dell Technologies (DELL) shares fell 11%, the second-biggest drop on the S&P 500, after Barclays downgraded the stock to equal weight from overweight and cut its price target to $574 from $603. Meanwhile, SK hynix (SKHY) parent SK Group Chairman Chey Tae-won agreed to the sale of a 1.34% stake in the holding company to an investment fund linked to Dell founder Michael Dell for 544 billion won ($407.2 million), Reuters reported.

* UnitedHealth (UNH) shares rose 4.7%, the top gain on the S&P, a day after the company said it expects fiscal 2026 adjusted EPS of at least $20.50, up from the prior range of $19.50 to $20.

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