US STOCKS SNAPSHOT-S&P 500 futures fall sharply after October inflation data

Futures tied ​to the ​S&P 500 ‌fell sharply on ​Tuesday after a hotter-than-expected inflation reading strengthened ‌expectations that the Federal Reserve will keep interest rates higher for longer. A ‌Labor Department report showed the ‌Consumer Price Index rose 0.4% on a monthly basis, compared with estimates of a ⁠0.3% rise, ​according ⁠to economists polled by Reuters.

Excluding volatile food ⁠and energy components, core CPI increased ​0.3% in October, above expectations of ⁠a 0.2% gain. At 08:32 a.m. ET, ⁠Dow ​E-minis were up 46 points, or 0.09%, and S&P 500 ⁠E-minis were down 26.25 points, or 0.35%. Nasdaq ⁠100 ⁠E-minis were down 256.5 points, or 0.92%.