US stocks drop as hot inflation data and a weak Treasury auction send yields back up

• US stocks fell Thursday as bond yields resumed their upswing amid new inflation data.
• September's CPI came in hotter than estimated, climbing 0.4% for the month.
• The latest 30-year Treasury auction also saw weak demand, further boosting yields.

US stocks fell Thursday as the latest round of inflation data and a weak bond auction sent Treasury yields back up sharply.

The consumer price index gained 0.4% in September from the prior month, above expectations for a 0.3% increase. Similarly, it rose 3.7% from a year ago, outpacing estimates of a 3.6% rise.