US Stock Market Today After the Close: Hot CPI and Oil Reset the AI Rally
The S&P 500 fell 0.4% and the Nasdaq dropped 1.2% from record highs after April CPI rose 0.6%, with energy accounting for over 40% of the increase. Chip stocks led declines as Intel slid 8.6% and Micron lost 6.1%. Brent crude jumped 3.6% to $107.97 amid U.S.-Iran tensions. Fed rate-cut bets for 2026 dropped sharply after the inflation data.