U.S. stock markets dive after latest CPI figure

NEW YORK, New York - A spike in inflation put the brakes on U.S. stocks on Wednesday, as the tech sector in particular posted sharp losses. "In September, the Consumer Price Index for All Urban Consumers rose 0.6 per cent, seasonally adjusted (SA), and rose 3.7 per cent over the year, not seasonally adjusted (NSA)," the Bureau of Labour Statistics said in astatementWednesday. "The index for all items less food and energy rose 0.3 percent in September (SA), up 2.6 percent over the year (NSA)," the statement said. The 3.7 per cent annualised inflation is well above the Fed's 2 per cent target, pressuring the case for the Fed to push interest rates higher, although probably not in October as the Midterm elections loom. TheStandard and Poor's 500fell to7,719.51, down85.94points or1.10 percent, on volume of3.221B. The index traded between a low of6,316.91and a high of7,844.52during the session, with an intraday high of7,789.15and a previous close of7,693.31. TheDow Jones Industrial Averageslipped to51,622.32, losing47.78points or0.09 percent, on volume of429.645M. It moved between45,057.28and54,744.33, touching51,869.75intraday against a prior close of51,365.42. TheNASDAQ Compositeposted the steepest decline, closing at26,692.87, down511.51points or1.88 percent, on volume of6.53B. The index ranged from20,690.25to27,722.75, with an intraday high of27,134.29and a previous close of26,602.12. U.S. Dollar Strengthens Against Most Major Currencies Wednesday; Yen Inches Up The U.S. dollar advanced against most major currencies on Wednesday, while the Japanese yen was the lone exception, inching higher against the greenback. Theeuroweakened against the dollar, withEUR-USDlast traded at1.1155, a decline of0.39 percent. TheJapanese yenwas the only major currency to gain ground on the dollar, withUSD-JPYat158.28a move of0.03 percent. TheBritish poundfell against the dollar, withGBP-USDat1.3190, down0.49 percent. TheAustralian dollardeclined against the greenback, withAUD-USDtrading at0.6969, a drop of0.21 percent. TheCanadian dollarweakened against the U.S. dollar, withUSD-CADat1.4243, a rise of0.19 percent. TheSwiss francalso lost ground against the dollar, withUSD-CHFat0.8348, up0.26 percent. Global Markets Mostly Higher Wednesday as European Stocks Extend Gains, Asia Mixed, Canada friendless World stock markets closed mostly higher on Wednesday, with UK and European benchmarks leading the advance while Asian indices finished mixed. In Canada, the benchmark index fell sharply. In Canada, theS&P/TSX Composite indexfell to35,584.46, down399.52points or1.11 percent, on volume of285.882M. It traded between29,530.90and37,069.10, with a session high of35,900.65and a prior close of35,393.63. In London, theFTSE 100rose to10,724.86, up74.53points or0.70 percent. The index traded between a low of9,276.90and a high of10,989.50during the session, against a previous close of10,641.22, with an intraday high of10,731.30. On the continent, Germany'sDAX Padded38.71points, or0.15 percent, to close at25,298.61. It moved between21,863.81and26,618.74, with a session high of25,448.73and a prior close of25,276.82. TheCAC 40in Paris finished at7,873.11, up45.48points or0.58 percent. The index ranged from7,505.27to8,755.03, touching7,893.48intraday against a previous close of7,844.29. TheEURO STOXX 50 Igained23.36points, or0.38 percent, to end at6,190.37. It traded between5,376.81and6,577.20, with a high of6,215.81and a prior close of6,175.67. TheEuronext 100 Indexclosed at1,867.50, up8.91points or0.48 percent, within a range of1,658.14to1,984.60, after touching1,873.81and closing previously at1,859.18. Belgium'sBEL 20advanced50.20points Wednesday, or0.91 percent, to5,546.61. Its range was4,774.82to5,905.83, with an intraday high of5,550.31and a previous close of5,484.46. In Asia, Hong Kong'sHANG SENG INDEXslipped to24,314.17, down31.05points or0.13 percent. The index traded between22,518.00and28,056.10, with a high of24,524.63and a prior close of24,115.00. In mainland China, theSSE Composite Indexdropped33.64points, or0.88 percent, to3,767.23, on volume of1.647B. It ranged from3,741.11to4,258.86, with an intraday high of3,811.81and a prior close of3,761.96. In Japan, theNikkei 225closed at67,744.29, down33.23points or0.05 percent, after trading between67,533.10and68,408.14. Singapore'sSTI Indexalso edged lower, losing7.17points or0.13 percentto close at5,423.33. It ranged from4,311.65to5,828.50, touching5,453.59intraday against a previous close of5,410.32. In Australia, theS&P/ASX 200 [XJO]fell56.00points, or0.64 percent, to8,727.90. The index moved between8,262.40and9,296.70, with a high of8,783.90and a prior close of8,698.30. TheALL ORDINARIES [XAO]dropped52.50points, or0.59 percent, to8,869.00, within a range of8,454.90to9,474.80, after touching8,921.50and closing previously at8,841.40. Across the Tasman, inNew Zealand, theS&P/NZX 50 INDEX GROSSrose10.79points, or0.08 percent, to13,760.39, within a range of12,689.78to14,069.22, after a high of13,781.21and a prior close of13,648.67. India'sS&P BSE SENSEXdeclined251.89points, or0.34 percent, to72,781.89. It traded between71,292.88and86,159.02, with an intraday high of73,195.26and a previous close of72,578.75. In Indonesia, theIDX COMPOSITEgained17.05points on Wednesday, or0.29 percent, to5,943.02. Its range was5,317.91to9,174.47, with a high of6,009.96and a prior close of5,906.74. Malaysia'sFTSE Bursa Malaysia KLCIadded4.37points, or0.27 percent, to close at1,627.72. It moved between1,597.68and1,771.25, touching1,637.10intraday against a previous close of1,623.94. In South Korea, theKOSPI Composite Indexlost26.54points, or0.44 percent, to finish at6,008.81, with a 52-week high of9,385.59. Taiwan'sTSEC CAPITALIZATION WEIGHTED STclimbed284.52points, or0.59 percent, to48,625.83. It traded between26,395.98and49,968.92, with an intraday high of49,059.12and a previous close of48,382.64. In the Middle East, Israel'sTA-125rose25.64points, or0.64 percent, to4,025.15, within a range of3,231.95to4,588.51, after touching4,062.23and closing previously at4,004.81. In Egypt, theEGX 30 Price Return Indexgained227.50points, or0.44 percent, to51,492.80, on volume of167.284M. It traded between51,195.10and52,092.30, matching both its prior close and intraday high at those levels. In Africa, South Africa'sTop 40 USD Net TRI Indexfell111.38points, or1.68 percent, to6,501.17, within a range of6,105.70to8,184.71, after a high of6,679.91and a previous close of6,486.79. (This report incorporates quotes retrieved with the assistance of artificial intelligence). 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