Stock Market Midday, Oct. 14: Hot Inflation Weighs on Markets, CoreWeave Plummets 15%

A 3.7% CPI print on October 14, 2026 hit stocks hard, reviving worries that the Federal Reserve could hike rates. The S&P 500 fell 0.91%, the Nasdaq dropped 1.31%, and the Dow slipped just 0.09%, a split that shows growth-heavy names absorbing most of the damage.

Semiconductors led the decline, down 10% over five days. ASML sits squarely in that sector, though the source gives no stock-specific move for it.

CoreWeave (CRWV) plummeted 15%, with rising bond yields cited as the driver. Interpretation: a heavily rate-sensitive AI infrastructure name is trading as a long-duration asset, and a hot inflation print is hitting it hardest.

Bank of America (BAC) fell 6% after a $1.2 billion regulatory fine. The move is company-specific rather than a rate reaction. The Bank of America preferred series (BACPB, BACPE, BACPK, BACPL, BACPM, BACPN, BACPO, BACPP, BACPQ, BACPS) and the Merrill Lynch-linked preferreds (BMLPG, BMLPH, BMLPJ, BMLPL, MERPK) share the same issuer exposure. The source gives no price moves for them.

One bright spot: GlobalFoundries (GFS) surged after securing a major U.S.-Japan semiconductor initiative with up to $21 billion in funding, showing that stock-specific funding news can override a weak sector tape.