New York Stock Exchange Closes Weakly Due to Unexpected Consumer Price Index

In September, the U.S. consumer price index was the lowest in three years and seven months, but the New York Stock Exchange closed lower as it slightly exceeded market expectations.

On the New York Stock Exchange (NYSE) on the 10th local time, the Dow Jones Industrial Average closed at 42,454.12, down 0.14% and 57.88 points from the previous trading day.

The Standard & Poor's (S&P) 500 Index fell 0.21% (11.99 points) from the previous session to 5780.05, and the tech-heavy Nasdaq Composite Index closed at 18,282.05, down 0.05% (9.57 points) from the previous session.

The U.S. Labor Department previously reported a 0.2% increase in the consumer price index in September from the previous month, higher than market expectations of a 0.1% increase.

Experts said the stock market ended weaker on the news that the consumer price index exceeded expectations and that the number of new weekly unemployment insurance claims reached its highest level in a year and two months.