Changes in US stocks | CPI surpassed expectations, intensified interest rate hikes, and the NASDAQ fell 0.6%, and most star technology stocks weakened

The Zhitong Finance App learned that on Wednesday, the three major US stock indices collectively opened lower. The NASDAQ index fell 0.6%, and most star technology stocks weakened. American Ultra Micro (AMD.US) fell nearly 4%, SpaceX (SPCX.US) and SNDK.US (SNDK.US) fell more than 2%, and Nvidia (NVDA.US), Meta (META.US), and Tesla (TSLA.US) fell more than 1%.

According to the news, the US core CPI rate rose to 2.6% per annum in September, a new high since June this year, and higher than the 2.5% expected by the market. After the September seasonal adjustment, the US core CPI recorded a monthly rate of 0.3%, higher than market expectations of 0.2%. The US recorded an annual unseasonally adjusted CPI rate of 3.7% in September, a new high since May this year, higher than the 3.6% expected by the market. The US recorded an unseasonally adjusted monthly CPI rate of 0.6% in September, a new high since April this year, in line with expectations. After the CPI data was released, the market increased its bet on the Fed's interest rate hike in October and increased the bet that the Fed would raise interest rates three more times before the end of 2027.

Oulu Sonora, head of the US economy at Fitch Ratings, said that this inflation report is a red light warning for the Federal Reserve. Energy inflation has boosted the overall data as expected, but the real problem is that core inflation (super core services inflation) is still above 3%. Higher energy costs are beginning to creep into broader service prices, increasing the risk that this inflationary explosion will continue. Interest rate hikes at the end of the month are now clearly within the scope of discussions, but December is still a more likely time for action.