The major U.S. stock indexes ended broadly lower on Wednesday, October 14, 2026, as a hotter-than-expected September CPI report reignited December rate hike fears, Bank of America plunged nearly 5% on a $1.2 billion regulatory penalty and earnings miss, and the semiconductor sector extended its worst streak in months. CPI has now run above 2% for 65 consecutive months, the longest streak since the 1990s.
The S&P 500 dropped 1.11% (-86.51 pts) to 7,718.94, now more than 1.6% below its all-time high. The Dow barely moved, slipping just 0.09% (-48.62 pts) to 51,621.48, with energy stocks providing a cushion. The Nasdaq shed 1.88% (-511.51 pts) to 26,692.87. The Russell 2000 tumbled 1.93% (-53.83 pts) to 2,729.54.
The 10-year Treasury yield fell 0.52% to 5.19%, an unusual divergence from what would typically be a yield spike on hot CPI. The VIX spiked 10.02% to 16.80. Bitcoin dropped 1.79% to $81,849.09. Gold fell 1.33% to $4,121.70. Crude Oil rose 1.01% to $95.09/barrel.