Stock Market Midday, Oct. 14: Hot Inflation Weighs on Markets, CoreWeave Plummets 15%
As of 11:38 AM ET, the S&P 500 (SNPINDEX:^GSPC) is down 0.91% to 7,734 as a hot inflation print weighs on sentiment. The Nasdaq Composite (NASDAQINDEX:^IXIC) is down 1.31% to 26,840 on tech weakness, and the Dow Jones Industrial Average (DJINDICES:^DJI) has slipped 0.09% to 51,620 as investors brace for further rate hikes. Gold prices are down 1.79% to $4,083.51, and the 10-Year Treasury yield is up 2 basis points to 5.24%. The healthcare sector leads gainers, and basic materials and technology stocks have seen the biggest declines. Bank of America shares dropped more than 6% this morning after a $1.2 billion regulatory fine hit profits. CoreWeave plummeted 15% after a social media post showed its bond yield had hit 15%, spooking investors concerned about rising borrowing costs. The jitters spread to its competitors -- Nebius Group tumbled over 9%. Continue reading