Wall Street falls across the board as October inflation tops forecasts

US stocks fell across the board on Tuesday (local time) after October consumer price data came in above market expectations.

The Dow Jones Industrial Average closed down 157.86 points, or 0.30 percent, at 52,231.89 on the New York Stock Exchange. The S&P 500 fell 29.01 points, or 0.38 percent, to 7,520.93, while the NASDAQ Composite dropped 187.26 points, or 0.74 percent, to 25,065.87.

The US Consumer Price Index for October rose 0.4 percent from the previous month, while core CPI — which strips out volatile energy and food prices — climbed 0.3 percent, both exceeding forecasts.

The stronger-than-expected inflation data stoked concern that the Federal Reserve could raise its benchmark interest rate in December.

Technology stocks led the selloff, with Nvidia falling more than 5.5 percent amid an investigation into a scandal involving CEO Jensen Huang and growing worries over US export restrictions on sales to China.