October CPI Rises More Than Expected, Sparking Market Selloff
The Bureau of Labor Statistics reported headline CPI up 0.4% month-over-month, beating estimates of 0.3%, while core CPI rose 0.3% against 0.2% expected. Food prices jumped 0.5%, energy 0.7%, and shelter costs added pressure, reinforcing sticky inflation worries. Markets tumbled immediately: Nasdaq 100 futures fell 1.5%, S&P 500 futures 0.8%, Bitcoin dipped below $74,000 with $200 million in crypto liquidations, and rate hike odds for the Fed's December 9 meeting surged above 98% for 25 basis points
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The Bureau of Labor Statistics reported headline CPI up 0.4% month-over-month, beating estimates of 0.3%, while core CPI rose 0.3% against 0.2% expected. Food prices jumped 0.5%, energy 0.7%, and shelter costs added pressure, reinforcing sticky inflation worries. Markets tumbled immediately: Nasdaq 100 futures fell 1.5%, S&P 500 futures 0.8%, Bitcoin dipped below $74,000 with $200 million in crypto liquidations, and rate hike odds for the Fed's December 9 meeting surged above 98% for 25 basis points
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