What Happened Today, Wednesday October 14, 2026, 5:00 PM ET close
Hot Core Inflation Sends Tech Lower as the Nasdaq Drops 1.88%
Core inflation came in hotter than expected, raising rate hike worries and hitting tech and small caps.
ES and NQ at the close
NQ, Nasdaq 100 futures
30,182.75
-1.98% on the day
Day range 30,078.00 to 30,891.50
ES, S&P 500 futures
7,770.25
-1.09% on the day
Day range 7,741.00 to 7,879.75
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The story
Stocks fell on Wednesday after a hotter inflation report. Consumer prices rose 0.6% in September and 3.7% from a year ago, led by gasoline, and core prices rose 0.3% for the month, more than the 0.2% expected. The Nasdaq fell 1.88% to 26,692, the S&P 500 lost 1.1% to 7,719 and the Russell 2000 dropped 1.93%. The Dow held up better, down 0.09%. US crude futures rose 1.01% to $95.09.
The MAG7 and the megacaps
Tech took the biggest hit as the inflation data raised the odds of another rate hike, which tends to weigh on growth stocks. AI stocks were under extra pressure, and CoreWeave fell more than 15% as its bonds sold off on worries about its debt.
After the bell
Hot core inflation
Core CPI rose 0.3% in September versus 0.2% expected and 2.6% from a year ago. Higher gasoline prices tied to the Middle East war drove the headline number.
AI debt worries
CoreWeave fell more than 15% as its corporate bonds sold off, a sign investors are worried about how AI data centers are being financed.
Bank of America slips
Bank of America fell after earnings of $0.91 a share missed the $1.10 expected and a $1.2 billion Treasury fine weighed on the stock.
Netflix cuts jobs
Netflix said it is cutting about 6% of its staff, roughly 1,000 jobs, as growth slows.
Crypto
Bitcoin rose 0.71% to about $82,141, trading between roughly $79,736 and $82,540. Crypto does not always move with stocks, so it is worth tracking on its own.
Into the night
Middle East tensions rose further, with reports of attacks on Saudi Aramco facilities. ASML reported strong AI driven orders and raised its sales outlook. GlobalFoundries was picked to build two New York chip plants under a US and Japan program worth up to $21 billion.
What is coming next
September PPI
Thursday
Wholesale prices, the next inflation check.
Fed meeting
Oct 27 to 28
Hot inflation keeps the possibility of another hike in view.
Social Security COLA
3.6% for 2027
Announced with the CPI data.
Wholesale inflation arrives Thursday. Investors are watching whether price pressure is spreading. The items above are things to watch, not predictions.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-10-14 session close; charts are live and interactive. Always verify before acting.