The Prime Daily: 15 October 2026

Hot CPI Drives Tech-Led Selloff

U.S. stocks closed lower, led by technology, after a hotter-than-expected September CPI report raised fears of another Fed rate hike. Headline CPI rose 3.7% year over year against a 3.6% forecast. Core CPI rose 0.3% on the month and 2.6% on the year, both above forecasts, suggesting price pressures are spreading beyond energy. Indexes erased their premarket gains.

The Nasdaq fell 1.88% to 26,692.87, its worst day since July 23, and the S&P 500 lost 1.11% to 7,718.94. The Dow slipped just 0.09%. Technology and communication services led the decline, and the Philadelphia semiconductor index dropped 4.3%. Nvidia, AMD and Broadcom fell sharply as higher borrowing costs and funding constraints on the AI infrastructure buildout clouded data-centre spending. Apple rose 0.5% to a record close, lifting its market value above $5 trillion, and healthcare stocks held up.

Treasury yields rose on the report. The 2-year yield jumped more than 10 basis points, while the 10-year briefly touched its highest level this year before reversing lower. The odds of an October rate hike climbed to about 37% from 22%, and traders still expect a hike in December.

Brent settled at $105 after Houthi strikes on Saudi Aramco and attacks on Hormuz shipping.

The Indian rupee extended its winning streak for a fourth session, appreciating 13 paise to close at 95.15, supported by central-bank intervention and unwinding of long dollar positions. However, strong importer demand capped further gains.

Asian equity markets experienced a sharp sell-off, led by heavy losses in technology and semiconductor shares. South Korea’s KOSPI plunged 7.32% (triggering temporary emergency trading curbs), Japan’s Nikkei 225 dropped 4.56%, and Hong Kong’s Hang Seng declined by 0.97%.

Nifty witnessed profit booking and slipped 99 points to close at 22,622. Nifty must reclaim last week’s high of 22,776 to secure fresh bullish confirmation and that would open the way toward the next resistance band of 23,100–23,150.  On the downside, 22,300 remains the pivotal support zone.

Indian equities are likely to open subdued, weighed down by weak global cues