Wall Street's main indexes edged lower on Wednesday after a hotter-than-expected inflation report boosted bets of an interest rate hike this month, while investors parsed more big bank earnings.
Data showed US consumer prices accelerated in September amid a surge in gasoline costs, leading traders to bolster bets of a rate hike in October. They now see a 46% chance of a quarter-point increase compared with a 21.6% chance before the figures, according to LSEG-compiled data.
