Stocks Slide After CPI Data; Europe Still in Focus

[Stocks-to-Watch]

The consumer price index fell 0.1% in October, and rose 0.1% after excluding food and gas. The inflation has moderated somewhat, with the CPI up 3.5% over the past 12 months, versus a 3.9% 12-month gain as of last month. Stock futures were already pointed down before the data release, and they stayed negative afterward.

Dow futures fell 90 points to 11,948; S&P 500 futures fell 12.7 points to 1,241.4.

Italian bond yields once again rose above 7% despite reports that the European Central Bank was taking aggressive steps to buy up Italian bonds. That, and some negative remarks out of the Bank of England, put European markets in a funk; the German DAX was off about 1%.

In the U.S., Dell (DELL) fell 2.3% despite beating earnings expectations; Abercrombie & Fitch (ANF)* fell 7.5% after missing earnings expectations.



Original Article Source by Barrons.com