US inflation comprehensively exceeds expectations, and the three major US stock indices open lower.

US October inflation came in above expectations across the board, strengthening bets on aggressive Federal Reserve rate hikes and pushing all three major US stock indices to open lower on November 10. The Dow Jones fell 0.4%, the S&P 500 dropped 0.6% and the Nasdaq declined 0.8%, with chipmakers leading losses: Nvidia fell 2.6%, Micron 2.2% and Intel 2%, while Apple bucked the trend with a 0.4% gain. Alibaba slipped 0.3% as it plans to spin off its T-Head semiconductor unit and list it separately on the Hong Kong Stock Exchange. The broad selloff matters because it signals investors are repricing for a higher-for-longer rate path, with tech and semiconductor names most exposed to tighter policy. Next, watch the Fed's rate decision and upcoming inflation prints for confirmation of whether another outsized hike is priced in.