landsberg bennettStocks finished lower Wednesday. The Dow fell 205 points to 25,080, while the S&P 500 lost 20 points to 2,701. The Nasdaq Composite was down 64 points to 7,136.

U.S. equities failed to sustain this morning’s positive momentum, with the S&P 500 slipping to its lowest point in two weeks. On the data front, an update on inflation showed consumer prices rose 0.3% in October. This marked the largest gain in nine months, though the uptick was largely due to rising gas prices. Core CPI (ex-food and energy) advanced 2.1% year-over-year last month, slightly below estimates of 2.2% but still above the Fed’s long-term target.

Nine of 11 S&P 500 sectors closed in negative territory. Financials led decliners with JPMorgan Chase dropping 2.1% to $107.33 and Goldman Sachs slumping 1.3% to $202.49 to its worst level since November 2016. Tech stocks lagged, with the group on pace to fall nearly 4.5% on the week. Shares of Apple continued to weigh on the market, sliding 2.8% to $186.80, dipping into bear market territory. Consumer Discretionary stocks erased earlier gains with Netflix losing 2.6% to $286.73 and Amazon slipping 2.0% to $1,599.01.

Breadth was negative on issues by 3:2 on the NYSE and 9:4 on the Nasdaq. Composite NYSE volume was more than 4.3 billion shares.

Treasuries caught a perceived “safe haven” bid, with the yield on the benchmark 10-year note down two basis points to 3.12%. In commodities, WTI crude added 1.0% to $56.26/barrel, snapping longest losing streak on record. COMEX gold rose 0.9% to $1,212.10/ounce amid a weaker dollar.