A widely expected increase in the October Personal Consumption Expenditures (PCE) price index — commonly regarded as the Federal Reserve's preferred inflation gauge — triggered fresh losses for the U.S. dollar, while Treasury yields and U.S. stocks also slid in tandem.
By 11:10 a.m. ET in New York, the U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), was down 0.8%, reflecting broad weakness in the greenback. Meanwhile, 10-year Treasury yields fell by five basis points to 4.26%, and the S&P 500, replicated by the SPDR S&P 500 ETF Trust (NYSE:SPY), dropped 0.4%.
