🔴 S&P 500 ETF (SPY) is trading 1% down as hotter-than-expected CPI revives rate-hike expectations

SPY is trading at $769.97, down -1.03%, as hotter-than-expected September inflation revived expectations of a Federal Reserve rate increase.

• September headline CPI was 3.7% versus 3.6% forecast, and core CPI was 2.6% versus 2.5% expected.
• Higher-than-expected inflation pushed Treasury yields higher, pressuring equities, particularly growth and technology shares.
• Semiconductor pressure and mixed bank earnings reinforced weakness; the Nasdaq was down more than the Dow.