S&P 500 futures are little changed as traders brace for crucial consumer inflation report: Live updates - CNBC
U.S. stock markets declined following higher-than-expected inflation data and signals from the Federal Reserve regarding potential interest rate hikes. Nvidia shares specifically dropped significantly amid ongoing controversy surrounding its CEO.
Why it matters
Market volatility driven by inflation and interest rate expectations impacts global investment strategies and economic stability.
Stocks fell on Tuesday after October inflation data came in hotter than expected and a key Federal Reserve official hinted at the possibility of a half-point rise in rates next month.
The S&P 500 lost 0.38% to end at 7,520.93, while the Dow Jones Industrial Average declined 157.86 points, or 0.30%, to 52,231.89. The Nasdaq Composite fell 0.74% and closed at 25,065.87.
Nvidia dragged down the three major averages, falling more than 5%. The stock sat out Monday's tech-fueled rally following CEO Jensen Huang's admission over the weekend to an affair with an alleged Chinese spy .
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