🔴 Pagaya Technologies is trading 5.4% down today after hotter-than-expected CPI lifted rate-hike concerns

Pagaya Technologies is trading 5.4% down at $16.88 as hotter-than-expected inflation raised rate-hike concerns and weighed on growth-oriented shares.

• September headline CPI rose 3.7% year over year, above the 3.6% forecast; core CPI reached 2.6%, versus 2.5% expected.
• Treasury yields rose, while the S&P 500 fell 0.68% and the Nasdaq Composite declined 0.91%.
• No clear company-specific catalyst for the decline surfaced.