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Stocks slip as inflation rises
U.S. stocks fell Tuesday after October inflation came in above expectations. The S&P 500 dropped 0.7%, the Dow Jones about 0.5%, and the Nasdaq 0.9%. Headline consumer prices rose 0.4% and core prices 0.3%, while Federal Reserve Governor Christopher Waller suggested a rate hike in December, with a possible increase of 50 basis points. Losses in technology stocks also weighed on the market as investors reduced their exposure to the sector.
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