10.11.202614:39:14UTC+00US Equites Decline on Tuesday

US equities declined on Tuesday after hotter‑than‑expected inflation data and as markets evaluated details of Anthropic’s planned IPO. The S&P 500 slipped 0.6%, the Nasdaq 100 lost 1%, and the Dow Jones Industrial Average fell 0.4%.

Both headline and core US CPI for October rose more than anticipated, reinforcing market conviction that the Federal Reserve will raise interest rates next month and boosting expectations for multiple additional hikes next year. Treasury yields rebounded, pressuring highly leveraged AI infrastructure and services firms.

Anthropic announced plans to offer 825 million shares in its upcoming IPO at a price range of $70–$78 per share, with the deal expected to price in mid‑November.

Micron, Marvell, and SanDisk each fell more than 3%, a move exacerbated by a sharp earnings decline at SoftBank tied to substantial data‑center write‑downs. In tandem, GE Vernova slid nearly 9%.

Nvidia extended Monday’s steep losses amid concerns that an alleged affair involving CEO Jensen Huang could undermine confidence in his leadership.