Stock Market Today (Oct. 14, 2026): Russell 2000, Nasdaq fall 2% on hot inflation data
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Happy Wednesday. Stocks were falling and oil prices were rising Wednesday as Wall Street digested a key inflation report and additional earnings results.
Markets finished broadly lower Tuesday, with all four major U.S. indexes slipping into negative territory. JPMorgan Chase (JPM), Goldman Sachs (GS), Citigroup (C) and Wells Fargo (WFC) all reported earnings.
“Investors appear increasingly focused on forward guidance rather than headline earnings beats, particularly as executives warn that the Treasury sell-off and uncertainty around interest rates are beginning to weigh on dealmaking and trading activity,” said Daniela Hathorn, senior market analyst.
“However, the underlying economic picture remains relatively resilient, with bank executives reporting healthy consumer spending and corporate borrowing conditions.”
The September U.S. consumer price index report showed headline inflation matching expectations for the month, while the annual rate and both monthly and annual core CPI readings came in hotter than forecast.
The consumer price index rose 0.6% in September from the previous month, while its year-over-year gain reached 3.7%. Economists polled by Dow Jones had expected an annual increase of 3.6%.
Excluding food and energy prices, core CPI rose 0.3% for the month and 2.6% from a year earlier. Both readings exceeded economists’ expectations of 0.2% and 2.5%, respectively.
“Inflation is cooking with gas,” said Jamie Cox, managing partner at Harris Financial Group. “It is abundantly clear where the inflation impulse originates, but two wars need to end before we get any relief. The Federal Reserve made the mistake of calling COVID-era inflation transitory, and now it appears they are set to make the same mistake in reverse on the energy supply shock.”
Treasury yields rose after the inflation report fueled concerns that the Federal Reserve could raise interest rates again this month.
The 10-year Treasury yield climbed more than 6 basis points to 5.278%, while the 30-year yield rose more than 2 basis points to 5.59%, according to CNBC.
BlackRock (BLK), Morgan Stanley (MS) and Bank of America (BAC) all reported quarterly results Wednesday.
Bank of America shares fell after federal regulators fined the company more than $1.2 billion over widespread failures in its safeguards against money laundering and other illicit financial activity.
This story was originally published by TheStreet on Oct 14, 2026, where it first appeared in the Stock Market Today section. Add TheStreet as a Preferred Source by clicking here.