| US equities concluded Tuesday’s trading session in a negative trajectory, as an unexpectedly robust inflation report intensified anticipations of a monetary policy tightening by the Federal Reserve in the forthcoming month. The Labor Department reported that the Consumer Price Index advanced 0.4% last month, representing its third consecutive increase of 0.4% or greater. The 2-year US Treasury yield, which commonly reflects anticipated Fed policy adjustments, climbed nearly 20 basis points, the largest single-day advance observed since April this year. This exerted downward pressure on equity valuations. The S&P 500 index declined 28.46 points, a 0.38% decrease, to settle at 7,521.48 points, whereas the Nasdaq Composite retreated 185.90 points, equivalent to a 0.74% decline, to reach 25,067.23. The Dow Jones Industrial Average decreased 161.95 points, or 0.31%, to close at 52,227.80. |