🔴 S&P 500 ETF (SPY) is trading 0.3% down on October 15 after hotter September CPI revived Fed rate concerns

SPY is trading at $767.15, down -0.3% pre-market versus the October 14 close of $769.60, as hotter-than-expected September CPI revived expectations for higher-for-longer Fed rates.

• September headline inflation was 3.7% year over year versus 3.6% expected, with core inflation also above forecasts. Reporting attributed the initial October 14 decline to CPI and much of the session’s pressure to technology and AI-related shares.
• Asian technology shares and S&P 500 futures were weaker on October 15, adding to the risk-off backdrop.