NEW YORK | US stocks turn higher after report shows modest inflation
NEW YORK— U.S. stocks are slightly higher in unsteady trading one day after their biggest drop since February. A report indicating that inflation remains limited seemed to calm U.S. investors.
Following yesterday’s sell-off in the U.S., markets in Asia tumbled and European stocks suffered more modest losses.
Bond yields, which have spiked over the last week, slid after the Labor Department said consumer prices grew only slightly in September. That’s a sign inflation remains under control and it suggests the Federal Reserve won’t have to raise interest rates at a faster pace.