Welcome to Markets Desk, your midday read on what's moving and why.
A hotter-than-expected September CPI report is rattling markets across the board. The S&P five hundred is off by three quarters of a percent, the Nasdaq one hundred down over one percent, as investors reprice the Fed's path forward. Bonds sold off in tandem, and rate-cut expectations are getting pushed further out.
That inflation data is doing double duty in the currency and gold markets. The dollar index surged to a one-and-a-half-year high on the read, as traders bet the Fed stays restrictive longer than previously anticipated. Gold fell in response, with the stronger dollar squeezing the metal's appeal as a safe haven.
Rounding out today's commodity moves, coffee prices are sharply higher after Colombia's Coffee Federation reported that twenty twenty-five through twenty twenty-six production dropped fifteen percent year over year to twelve point six five million bags. December arabica futures climbed nearly two and a half percent, with robusta also catching a bid as traders weigh tightening global supply against already elevated prices.
That's the tape. Markets Desk, signing off the floor.
