US inflation climbs to 3.7%, stocks slide and Fed hike fears grow
September consumer prices rose 3.7% from a year earlier, led by costlier gasoline and energy linked to the Iran war, unsettling bond and equity markets.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
The U.S. consumer price index rose 3.7% year over year in September and 0.6% month over month, with gasoline up 9.1%, mainly because of higher energy prices tied to the Iran war. The hotter-than-expected figure drove a sharp selloff in U.S. technology stocks, and by evening South Korea's Kospi index had fallen more than 7% as its own tech shares slid.
Timeline
- Oct 14, 10:04 AM ET: Inflation data showed consumer prices up 3.7% year over year in September and 0.6% month over month, with gasoline up 9.1%.
- Oct 14, 11:39 AM ET: By midday the Nasdaq 100 had fallen 1% after the September figure beat forecasts, pushing Treasury yields and rate-hike bets higher.
- Oct 14, 5:50 PM ET: The Nasdaq posted its biggest daily drop since July, with shares of Oracle, CoreWeave and other AI-linked stocks hit by worries about further Fed rate hikes.
- Oct 14, 9:57 PM ET: South Korea's Kospi index sank more than 7% as the sell-off in technology shares deepened after the U.S. market decline.
Coverage
- Stock Market Today (Oct. 15, 2026): S&P 500 edges lower as tech sell-off continues (Yahoo News)
- Rising inflation could solidify a Fed rate hike this year. Should CD buyers wait? Advisers say no (marketwatch.com)
- U.S. Treasury yields plunge after hot CPI print as investors await more economic data (CNBC)
- South Korea’s benchmark Kospi index sinks more than 7% as tech sell-off deepens (AP)
- 3 Regional Bank Stocks That Could Benefit If Interest Rates Stay Higher Longer (Yahoo News)
- CPI Pressures Markets And Fed Reserve's Move On Interest Rates (Cboe Global Markets)
- Nasdaq suffers biggest daily drop since July as inflation heats up (Reuters)
- Stock Market Today, Oct. 14: Oracle Tumbles on Hotter CPI Data Lifting Treasury Yields (fool.com)
- SoFi, BNY, Bread Financial, Perella Weinberg, and Morgan Stanley Shares Plummet, What You Need To Know (Yahoo News)
- Hot inflation data pushes US stock futures lower
- US inflation accelerates as energy costs push up wholesale prices
- Hotter US inflation data sends bitcoin toward $81,000
- Bitcoin and Ether funds see $391 million in outflows
- Wholesale prices jump 6.3% annually in September
- US September inflation report comes in hot, pushing bitcoin lower
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