🔴 ADI Global Distribution is trading 5% down today as hotter-than-expected CPI pressured equities

ADI Global Distribution is trading 5.39% down at $15.62 now, as hotter-than-expected inflation data renewed pressure on equities.

• September CPI rose 3.7% year over year, above the 3.6% forecast; core CPI reached 2.6%, also topping expectations.
• Reuters reported U.S. stocks opened lower as the report boosted rate-hike bets and Treasury yields rose.
• No company-specific catalyst was identified for October 14. JPMorgan’s October 13 price-target cut does not establish today’s cause.