Wall Street opens lower on Tuesday following hot October inflation data

Wall Street main indexes opened lower on Tuesday. Hotter-than-expected inflation data for October caused the drop. The new data threatens to pause a two-day rebound in tech shares. It also risks bringing back the selling trend.

Context

Inflation data tracks how fast prices rise for everyday goods and services. When inflation comes in higher than expected, markets often worry that central banks will keep interest rates high. High interest rates can slow down economic growth and put pressure on stock prices, especially for high-growth tech companies.