US stocks: Nasdaq ends sharply lower as hot inflation data stirs rate-hike worries
US inflation data for September shows an unexpected rise due to increased gasoline costs and broader price pressures. As a result, the Nasdaq index closed sharply lower, influenced by concerns over potential interest rate hikes. Major AI-related stocks, including Oracle and CoreWeave, experienced significant declines following the inflation report. In financial news, Bank of America reported a decrease in profits due to regulatory costs.