Chip stocks fall after the inflation print

The Bureau of Labor Statistics reported on October 14 that the Consumer Price Index for all urban consumers rose 0.6 percent in September, seasonally adjusted, after a 0.4 percent rise in August. Over the twelve months through September, the index increased 3.7 percent before seasonal adjustment, up from 3.4 percent through August. The index excluding food and energy rose 0.3 percent in September and 2.6 percent over the year.

CNN, in a story published the same day, reports that stocks fell on Wednesday after that inflation reading, which it calls hotter than expected, and that the drop was led by technology. CNN’s figures for the session: the S&P 500 fell 1.11 percent and the Nasdaq Composite fell 1.88 percent, each the worst day since July.

The names CNN lists in the data-center trade are specific. Marvell fell 8.7 percent. Oracle fell 8.8 percent. Dell fell 11.3 percent. A benchmark index of semiconductor stocks fell 4.3 percent and, CNN writes, is down roughly 12 percent over the past week. Nvidia fell 3.2 percent, and CNN puts it roughly 7.5 percent below a record high earlier this month. CoreWeave fell 15.5 percent.

CNN’s account of the week also includes a Chinese memory maker, CXMT, announcing progress on advanced memory chips, and concern about the debt used to finance data centers. Those are CNN’s report of the session, not a forecast from this desk.

This is a record of published figures. It is not a view on whether any of these shares should be bought or sold.