Investment Daily: US stocks fell amid inflation concerns and tech weakness
15 October 2026
Key takeaways
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US stocks fell; Treasury yield curve flattened.
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European stocks and government bonds were mixed.
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Asian stocks traded mixed.
Markets
US stocks fell on Wednesday amid inflation concerns and tech weakness. The S&P 500 lost 1.1%.
The US Treasury yield curve flattened, as stronger-than-expected US inflation drove a hawkish repricing of Fed expectations and risk sentiment weakened. 10-year yields fell 2bp to 5.19% and 2-year yields edged up 1bp to 4.80%.
European stocks ended mixed but mostly higher on Wednesday. The Euro Stoxx 50 closed 0.4% higher. The German DAX rose 0.2%, while the French CAC gained 0.6%. In the UK, the FTSE 100 was up 0.7%.
European government bonds traded mixed. 10-year German bund yields ended flat at 3.47%, and 10-year French bond yields climbed 4bp to 4.88%. In the UK, 10-year gilt yields fell 3bp to 5.42%.
Asian stock markets traded mixed but mostly lower on Wednesday, as investors focused on US earnings releases, while weakness in regional tech shares persisted. Korea’s Kospi closed 0.4% lower, while Japan’s Nikkei 225 ended flat. China’s Shanghai Composite fell 0.9%, and Hong Kong’s Hang Seng edged down 0.1%. Meanwhile, India’s Sensex shed 0.3%.
Crude oil prices rose on Wednesday. WTI for November delivery settled 1.0% higher at USD95.1 a barrel.
Key Data Releases and Events
Releases yesterday
US headline CPI inflation rose to 3.7% yoy in September from 3.4% yoy in August, above market expectations. Core CPI also rose more than expected, by 2.6% yoy, in September compared to 2.4% yoy in August.
In China, headline CPI inflation edged up to 0.9% yoy in September from 0.8% yoy in August, as lower food prices helped offset higher energy-related inflation. Core inflation was unchanged at 1.0% yoy. Meanwhile, robust global tech demand and higher prices continued to drive exports, resulting in a wider trade surplus of USD133.5bn in September.
Releases due today (15 October 2026)
In the US, PPI inflation is expected to firm on energy-related price pressures. Retail sales growth likely softened, although a solid labour market and wealth gains should continue to support consumer spending.
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