Inflation Report Drives Fed Rate Hike Bet as S&P 500 Futures Sink

US stocks fell at the open on Tuesday after investors reacted to a hotter-than-expected inflation report that reinforced bets for a Federal Reserve interest rate hike next month. The Consumer Price Index showed prices rose 0.4% in October, exceeding economist expectations of 0.3%, though missing annual figures due to last year's government shutdown. Fed Governor Chris Waller's hawkish comments further sealed the market view of an upcoming policy shift. Consequently, traders overwhelmingly anticipate a 25 basis point increase, with some expecting up to 50 basis points. In parallel tech news, Nvidia stock edged lower following ongoing CEO investigations, while Anthropic advanced its IPO roadshow seeking a $1.4 trillion valuation amidst broader volatility.