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US equity indexes closed lower Wednesday as renewed inflation concerns and a slump in technology stocks weighed on sentiment.
The Bureau of Labor Statistics reported that the consumer price index rose 0.6% in September, matching expectations in a Bloomberg poll, up from 0.4% in August. Core CPI climbed 0.3%, exceeding the 0.2% consensus figure.
Year-over-year, overall and core CPI accelerated to 3.7% and 2.6%, respectively, from 3.4% and 2.4%, surpassing market forecasts. Energy prices also contributed to the inflationary picture.
November West Texas Intermediate crude oil settled at $95.15 per barrel, a gain of $1.01, while December Brent crude was last seen at $106.03, up $0.34.
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