Stocks Slip as Hot Inflation Lifts Yields and Nvidia Falls Again

Wall Street closed lower on Tuesday, November 10, 2026, though well above the lows of the session, after a hotter than expected inflation report pushed Treasury yields higher and strengthened the case for another Federal Reserve rate increase in December. The S and P 500 fell 0.4 percent, the Dow Jones Industrial Average fell 0.3 percent and the Nasdaq Composite fell 0.7 percent, after dropping as much as 1.7 percent in early afternoon trading.

Hot inflation report drives the day

The Bureau of Labor Statistics said consumer prices rose 0.4 percent in October, down from the month before but slightly higher than economists had anticipated. Core prices, which strip out food and energy, rose 0.3 percent. Speaking in London before the report came out, Fed Governor Christopher Waller said a stronger policy move may be needed if that underlying measure rose by 0.3 percent, and the report landed exactly on his threshold.

The reading bolsters the view that the Fed, which raised its key rate in September for the first time in three years, will raise again at its next policy meeting in early December. The yield on the 10-year Treasury note was at 4.98 percent late in the day, down from an intraday high of 5.03 percent but up from 4.90 percent at Monday's close.

Tuesday's slip followed a powerful Monday rally, when the three big indexes surged more than 2 percent and won back most of last week's losses. That sell-off was driven by worries that Democratic control of Congress and several key statehouses could slow the AI build-out that has carried the market in recent years.

Nvidia falls for a second day

Nvidia was the heaviest weight on the market again. Its shares dropped 5.5 percent to close at 168.89 dollars, down 9.78 dollars from Monday's close of 178.67 dollars, and the stock has lost nearly 10 percent already this week. The company's board is investigating chief executive Jensen Huang over his relationship with a woman alleged to be a spy for China, a story Orbit Post has reported in full this week.

Other chip stocks were mixed. Micron fell 1 percent and Intel fell 2 percent, while Broadcom climbed 4 percent and Advanced Micro Devices added 1 percent. The iShares Semiconductor ETF, which jumped 7 percent on Monday, ended near unchanged. Microsoft fell 2 percent and SanDisk fell 3 percent, while Amazon rose 1.5 percent.

Earnings movers, oil and gold

Skydance shares tumbled nearly 8 percent and led the S and P 500 decliners after the media company released its first earnings report since the merger of Paramount Skydance and Warner Bros. Discovery. Take-Two Interactive jumped 8 percent despite results that missed Wall Street expectations, as the game maker cited huge preorder numbers for Grand Theft Auto VI, due out soon.

In other markets, West Texas Intermediate oil futures fell 0.5 percent to 86.50 dollars a barrel, their lowest level since late August, as traders waited for fresh developments in the Iran war. Gold futures fell 1.8 percent to 4,040 dollars an ounce, and bitcoin traded at 73,800 dollars, down from a high near 76,000 dollars on Monday and close to its lowest level in nearly three months.