US Stocks Fall as October Inflation Exceeds Expectations
US stocks and bonds fell after the Bureau of Labor Statistics reported higher-than-expected October inflation, prompting Federal Reserve officials to advocate for aggressive rate hikes.
US equity markets, the London FTSE 100, and gold prices fell on November 10, 2026, following a Consumer Price Index report that exceeded economist forecasts. The Bureau of Labor Statistics reported that the CPI rose 0.4% in October, while core inflation rose 0.3%. Rising housing and energy costs drove the increase, though the agency noted that annual figures were unavailable due to data gaps from the 2025 government shutdown.
Federal Reserve Governor Christopher Waller responded to the data by explicitly advocating for a 50-basis-point rate hike at the December 8-9 meeting to maintain the central bank's credibility. Dallas Fed President Lorie Logan supported at least two additional quarter-point hikes. These signals pushed two-year Treasury yields up 17 basis points to 4.73% and led analysts at Morgan Stanley and Barclays to predict a hawkish path with hikes extending into March.
In other developments, AI company Anthropic announced plans for an initial public offering that could raise up to 93.7 billion dollars, potentially valuing the firm at 1.02 trillion dollars. Additionally, Secretary of State Marco Rubio stated that economic sanctions against Iran are working effectively, removing the immediate need for major combat operations.
