US Stocks Plunge on Hot CPI, Fed Rate Hike Fears; Nvidia Drops 10%

A hotter-than-expected US consumer price index print has spooked markets, raising expectations of aggressive Fed tightening in December. Equities sold off sharply, with Nvidia losing nearly 10%, reflecting risk-off sentiment and higher rate expectations. The data challenges the disinflation narrative and could force the Fed to maintain or accelerate its hiking cycle.

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