US Stocks Drop With Yields After Inflation Rate Cools for Second Consecutive Month in August

Last Updated: Tuesday, September 14, 2021 12:53 PM | MT Newswires

US stocks fell with government bond yields after inflation eased for the second straight month in August, marking the slowest pace of growth in the consumer price index since the start of this year.

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The Dow Jones Industrial Average dropped 0.5% to 34,687.88, with S&P 500 down by 0.2%. Nasdaq was lower by 0.3%. Energy, financials and industrials were among the steepest decliners while technology was the biggest gainer.

The US 10-year Treasury yield fell by 4.2 basis points to more than 1.28%.

Prices climbed 0.3% last month, the smallest gain since January, compared with a 0.5% increase in July, according to data from the Bureau of Labor Statistics. Analysts polled by Econoday expected the consumer price index to rise 0.4% in August.

West Texas Intermediate crude oil rose 0.3% to $70.65 a barrel.

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