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US Stocks Decline Amid Inflation Concerns and Tech Sell-Off
US stocks experienced a significant downturn on October 13, 2026, with the Nasdaq Composite suffering its worst day since July. The Nasdaq 100 and S&P 500 also recorded their largest declines since late July, as investors reacted to a higher-than-expected Consumer Price Index (CPI) report. Year-over-year inflation rose to 3.7%, surpassing the anticipated 3.6%, which has intensified focus on inflation and the potential actions of the Federal Reserve. Following the CPI release, Treasury yields surged, adding pressure to growth-stock valuations, although they later retreated from their highs as investors sought safe havens.
The Dow Jones Industrial Average held up relatively well, decreasing only 0.09%, while the Russell 2000 index fell nearly 2%. The Nasdaq Composite closed down 511.51 points, or 1.88%, at 26,692.87, and the S&P 500 dropped 86.51 points, or 1.11%, to finish at 7,718.94. The trading community is now looking ahead to the Producer Price Index (PPI) report scheduled for release on October 14, which will provide further insights into inflation trends.
Technology and semiconductor stocks were particularly hard hit, with several companies experiencing declines of over 5%. CoreWeave led the losses with a drop of 15.46%, followed by Nebius at 10.08% and Credo Technology at 9.62%. Notably, Apple was an exception among the major tech stocks, managing a slight gain of 0.50%, while other prominent companies like Alphabet, Amazon, and Microsoft all ended lower. The Nasdaq 100 closed below its 200-hour moving average, indicating a shift in market sentiment towards sellers, raising concerns about further declines if buyers cannot regain control.
Source: KLEA News