Markets sank across the board on Tuesday as hot October CPI (+0.4% month on month, core +0.3%) cemented bets on a December Fed hike.
The S&P 500 fell 0.38% to 7,520.93, the Nasdaq lost 0.74% to 25,065.87, gold dropped about 2.6% to near $4,026, and Bitcoin slipped toward $73,800.
Nvidia fell another 5.5% after CEO Jensen Huang admitted to an affair and the board opened an independent investigation into whether he was targeted by a foreign intelligence effort. Microsoft briefly passed Nvidia as the world's second-most valuable company during the session, before Nvidia closed ahead again.
CME FedWatch now prices a 90% chance of a 25bp hike in December.
#cpiwatch $BTC $NVDA #fed
The S&P 500 fell 0.38% to 7,520.93, the Nasdaq lost 0.74% to 25,065.87, gold dropped about 2.6% to near $4,026, and Bitcoin slipped toward $73,800.
Nvidia fell another 5.5% after CEO Jensen Huang admitted to an affair and the board opened an independent investigation into whether he was targeted by a foreign intelligence effort. Microsoft briefly passed Nvidia as the world's second-most valuable company during the session, before Nvidia closed ahead again.
CME FedWatch now prices a 90% chance of a 25bp hike in December.
#cpiwatch $BTC $NVDA #fed
