Stock Market Update
11-Sep-24 10:10 ET
Stocks slide at the open after CPI data
Dow -565.56
at 40171.40,
Nasdaq -49.57
at 16976.29,
S&P -48.85
at 5446.67
[BRIEFING.COM] The stock market opened to broad declines after the Consumer Price Index reflected sticky prices in August. The S&P 500 (-0.8%) is sharply lower, along with the Dow Jones Industrial Average (-1.4%) while the Nasdaq Composite (-0.2%) trades slightly lower than yesterday.
The relative outperformance of the Nasdaq is related to positive price action in some chipmakers, which has also boosted the PHLX Semiconductor Index (SOX), trading up 0.3%.
The information technology sector (+0.3%) is alone in the green thanks to its semiconductor components while eight of the sectors trade down more than 0.9%, reflecting broad selling interest.
Treasury yields moved up in response to the CPI report. The 10-yr yield is at 3.64% and the 2-yr yield is at 3.61%.
