Stocks Turn Lower as AI, Tech Shares Slump -- WSJ

By Chelsey Dulaney

A hotter-than-expected September inflation report has put a dampener on the mood in markets today.

Stocks are lower in afternoon trading, with the Nasdaq bearing the brunt of the declines, down 1.6%, and the Dow industrials trading about 0.3% lower. Treasury yields rose sharply in the morning, but are now mixed on the day after slipping from those levels.

In tech, semiconductor shares are getting hit hard, with the PHLX Semiconductor Index off 4% and names like Oracle, Marvell, CoreWeave and Advanced Micro Devices down more.

Earlier today, the consumer price index rose 3.7% in September from an annual rate of 3.4% in August. Economists polled by the Wall Street Journal had expected a 3.6% increase. Core inflation, which excludes volatile food and energy costs, also topped economists' forecasts.

The data raises pressure on the Federal Reserve to consider further interest-rate increases to tame inflation, which is sitting well above its 2% target.

Investors are also dissecting a fresh round of earnings from Wall Street. Bank of America shares are tumbling after its profit disappointed even excluding a $1.2 billion fine, while Morgan Stanley's and BlackRock's shares are also lower despite stronger quarterly results.

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October 14, 2026 14:10 ET (18:10 GMT)