Stock market today: Hot inflation report drops tech, drives S&P 500, Nasdaq down Grace O'Donnell and Ines Ferré Updated Wed, October 14, 2026 at 11:22 AM EDT 1 min read ^IXIC -1.18% ASML -1.03% ^KS11 -0.44% ^DJI -0.03% ^GSPC -0.82% Trade ASML on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Stocks declined on Wednesday as investors digested hotter-than-expected inflation data, and bank earnings continued to roll in.
The Dow Jones Industrial Average (^DJI) wavered near the flatline while the S&P 500 (^GSPC) declined 0.8%. The Nasdaq Composite (^IXIC) fell 1% after stocks staggered lower on Tuesday.
September's Consumer Price Index (CPI) rose 3.7% year over year, versus 3.6% expected by economists. Higher gas and energy prices drove inflation higher, lowering the odds that the Federal Reserve will hold rates steady at its next policy meeting.
Go deeper with AlphaSpace 26,884.20 -320.18 (-1.18%) As of 11:34:35 AM EDT. Market Open. ^IXIC ^DJI ^GSPC Semiconductor stocks continued to sell off after the KOSPI index (^KS11) declined 12% over the past five days. Chip equipment maker ASML (ASML) on Wednesday posted record third quarter sales and raised its full-year outlook amid strong AI demand. Investors await Taiwan Semiconductor earnings on Thursday (TSM) for further confirmation of the AI boom.
Elsewhere, the parade of financial company earnings continued with results from Bank of America (BAC) and Morgan Stanley (MS). Bank of America stock sank as much as 9% as a $1.2 billion regulatory penalty and a slowdown in its Wall Street machine dented lending income. Meanwhile, BlackRock (BLK) shares rose after third quarter earnings beat analyst expectations. The reports follow several investment banking earnings reports on Tuesday, indicating that consumers are holding up despite higher interest rates, among other signals.
Brent crude futures (BZ=F), the global benchmark, remained above $105 per barrel as Houthis continued to bomb Saudi Arabian energy facilities.
Bond yields remained elevated mid-morning following the earlier release of hotter-than-expected inflation data for September.
The 10-year Treasury yield (^TNX) was up 6 basis points at 5.27% at 11:18 AM ET. The 30-year Treasury yield (^TYX) was up 2 basis points at 5.58%.
Netflix (NFLX) stock lost early gains on Wednesday, following a Wall Street Journal report that the streaming giant was cutting roughly 6% of its workforce.
The cuts are expected to be in product, tech, legal, and Human Resources, according to an email from co-CEOs Greg Peters and Ted Sarandos, cited by Bloomberg.
On Tuesday, the streaming giant announced it had secured the exclusive rights in Spain and Andorra to the FIFA World Cup 203, bringing all 104 soccer matches live to Netflix.
Netflix stock has lagged this year, tumbling 25% since the beginning of 2026. The company, which made a bid to purchase Warner Bros (WBD), withdrew the offer after Paramount's Skydance (SKYD) offered more money for the media giant.
The Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) declined after hotter-than-expected September inflation data.
Thge Dow Jones Industrial Average (^DJI) rose 0.2% while tech stocks declined as the 10-year Treasury yield gained after prices increased 3.7% on an annualized basis in September, higher than the 3.6% expected by economists.
Go deeper with AlphaSpace 51,655.04 -15.06 (-0.03%) As of 11:34:35 AM EDT. Market Open. ^DJI ^IXIC ^GSPC Today at 12:31 PM UTC Consumer Price Index comes in hotter than expected for September September's Consumer Price Index (CPI) came in at 3.7% versus 3.6% expected by economists.
Month-over-month prices rose 0.6%, in line with expectations. Core CPI, which strips out food and energy costs, rose 2.6% as compared to estimates of 2.5%.
Economists anticipated that higher gas and energy prices would drive inflation higher in September. A hotter-than-expected inflation print could put an October Fed rate hike back in play, experts cautioned.
Roughly 78% of investors expect the Fed to hold rates steady at its upcoming meeting, according to CME FedWatch.
Bank of America said Wednesday that its third quarter profit fell 17% from a year earlier as $1.2 billion regulatory penalty and a slowdown in its Wall Street machine dented higher lending income.
Bank of America's (BAC) stock fell more than 3% in premarket trading.
The nation's second biggest bank reported Q3 net income of $6.93 billion, or $0.91 per share, compared with the $1.10 per share analysts expected. "Excluding the regulatory penalty, Bank of America said it earned $8.1 billion, or $1.08 per share, with adjusted earnings per share rising 4% from a year earlier.
Revenue rose 3% to $30 billion, compared with expectations of roughly $30.6 billion.
Yahoo Finance's Hamza Shaban writes in today's Morning Brief newsletter:
The Apple household just got a new lineup. On Tuesday, the company unveiled several new smart home devices, including the HomeView hub, the HomePod Mini 2, and Apple TV 4K.
The company's new releases are a clear pivot in its corporate strategy. Not only is it trying its hand at smart home products once again after its HomePod failure, but Apple and its accelerating hardware releases show new CEO John Ternus's ambitious strategy as a company meeting the AI era head-on.
Tim Cook was Mr. Services, growing that business massively. But Ternus is clearly saying, why not both?
Finally, it seems, Apple has figured out a new way to take its "walled garden" design philosophy — a closed, safe ecosystem that favors trust, its signature design language, and vetted partners — and apply it to the home, putting its customers literally inside it.
Economic data: MBA mortgage applications, week ended Oct. 9 (-4.2% prior); CPI, month-on-month, September (+0.6% expected, +0.4% prior); Core CPI, month-on-month, September (+0.2% expected, +0.3% prior); CPI, year-on-year, September (+3.6% expected, +3.4% prior); Core CPI, year-on-year, September (+2.5% expected, +2.4% prior); Real average weekly earnings, year-on-year, September (+0.4% prior); Real average hourly earnings, year-on-year, September (-0.3% prior); Fed releases Beige Book
Earnings calendar: ASML (ASML), Bank of America (BAC), Morgan Stanley (MS), BlackRock (BLK), The Progressive Corporation (PGR), Fastenal Company (FAST), State Street Corporation (STT)
Catch up on some top stories you might have missed overnight:
Boston Fed's Collins wants to raise rates again this year
'The baby boomers have arrived': How Americans over 75 got richer than other age groups
China's September exports blow past forecasts, imports accelerate
Gold held a two-day decline after a Federal Reserve official signaled one more interest-rate hike may be needed this year, but further tightening won't be necessary in 2027, improving sentiment toward the precious metal.
Bullion traded near $4,155 an ounce, after falling 0.8% in the previous two sessions. Oil rose as a flare-up in attacks in the Middle East threatened further energy disruptions that could weigh on inflation and make a case for higher borrowing costs. Brent crude was above $106 a barrel.
Fed New York President John Williams said he sees one more interest-rate hike as appropriate this year. US Treasury yields edged lower after his remarks, supporting gold, which typically does better in a lower rate environment as it doesn't pay interest.
