U.S. stocks fall as hotter inflation data renews rate concerns
publishers 56articles 72first reported 4 Oct, 03:30 UTCdeveloping since 5 Oct · 26 editions
U.S. stocks fell sharply after September inflation data came in hotter than expected, renewing concerns that interest rates could rise. The Nasdaq ended sharply lower, while the broader market recorded its worst day since July, according to Reuters and AP.
The Producer Price Index rose 1.3% in September from the previous month and 6.3% from a year earlier, the Bureau of Labor Statistics reported Thursday. Economists surveyed by FactSet had expected increases of 0.5% monthly and 5.3% annually. The monthly rise was the fastest since March 2022, while the annual rate was the highest since December 2022.
Energy accounted for 80% of a 2.9% increase in goods prices. Core producer inflation, excluding food and energy, rose 0.7% for the month and 5% annually.
The report followed data showing consumer prices increased 3.7% over the year in September, fueled in part by a 9% monthly jump in gasoline prices. Core consumer inflation accelerated to 2.6% from 2.4%. President Donald Trump maintained that inflation was low despite the higher-than-expected reading, CBS News reported.
Separately, the Social Security Administration announced a 3.6% cost-of-living adjustment for 2027. The adjustment affects Social Security, military retirement pay and, subject to congressional action, veterans’ disability compensation and survivor benefits.
HOW THIS STORY WAS MADE
Written from 8 articles, 2 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 258 h after the record first saw the story; the editor kept it as written.
- Publishers
- 56
- Source articles
- 72
- Given to the writer
- 8, 2 with the article's own text
- Independent newsrooms
- 8
- This version written
- 258 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and published it as written.
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →