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VXN and RVX are down as well.brokebybernacke2 wrote:vix is RED, hello
U.S. stocks opened sharply lower Thursday, after the consumer-price index for September came in hotter than economists had expected, reinforcing expectations the Federal Reserve will continue aggressively tightening interest rates in its struggle to bring down inflation.
What’s driving markets
One of the most closely watched economic data releases of the month, the year-over-year headline number for the September consumer-price index came in at 8.2%, down from 8.3%, but higher than the FactSet consensus estimate of 8.1%.
But it was the rise in the core CPI number, which strips out volatile food and energy prices, that got the blame for the selloff, posting a monthly rise of 0.6% versus a Wall Street forecast of 0.4%. The increase in the core rate over the past year climbed to a new peak of 6.6% from 6.3%, marking the biggest gain in 40 years.
“The market’s steep drop following the data may indicate any lingering hopes of a Fed hike slowdown have been crushed,” said Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office.