Update: Equities Fall Intraday as Traders Parse Inflation Data, Bank of America's Earnings Miss

01:56 PM EDT, 10/14/2026 (MT Newswires) -- (Updates with latest market prices and developments.) US benchmark equity indexes declined intraday as markets assessed a hot inflation report and an earnings miss at Bank of America (BAC). The Nasdaq Composite was down 1.7% at 26,750.6 after midday Wednesday and the S&P 500 fell 1.1% to 7,720.4. The Dow Jones Industrial Average declined 0.3% to 51,508.6. Among sectors, technology led the laggards, while healthcare paced the gainers. In economic news, US consumer inflation accelerated in September as gasoline prices surged, while the core measure unexpectedly remained steady, official data showed. The report increased the odds for an interest rate increase in October. "With core inflation running at 2.6% year-on-year and oil prices remaining elevated, which increases the risk that price pressures spread to other categories, the Fed likely will not be able to remain on the sidelines for much longer," TD Economics said in a note. The probability of the US central bank hiking rates by 25 basis points on Oct. 28 rose to 35% on Wednesday from 22% on Tuesday, according to the CME FedWatch tool. Markets are pricing in a 63% probability that the benchmark rate will be kept steady, down from 78%. Treasury yields were higher intraday, with the two-year rate up 5.3 basis points at 4.85%, and the 10-year rate was up 2.1 basis points to 5.24%. Bank of America's third-quarter results missed market expectations due to a regulatory settlement charge and weak trading and investment banking revenue. Morgan Stanley (MS) topped estimates on an equity trading revenue boost. Shares of Bank of America were down 5.3% intraday, while Morgan Stanley fell 3.2%. BlackRock (BLK) reported an unexpected increase in third-quarter net inflows driven by strong institutional demand and retail inflows. Shares of the company were up 0.2%. Dell (DELL) shares tumbled 11%, the second-worst performer on the S&P 500, while Nvidia (NVDA) dropped 2.7%, the Dow's second-biggest decliner. Honeywell (HON) unveiled an industrial AI simulation platform built with Nvidia and Dell. Honeywell shares were up 0.6%. West Texas Intermediate crude oil gained 1.4% to $95.48 a barrel, while Brent rose 0.7% to $106.42. Spot gold fell 2% to $4,079.19 per troy ounce, while silver slumped 6.4% to $55.71 per ounce.