US CPI Accelerates to 3.7%, Pressuring Tech Stocks and Nasdaq

September US CPI rose to 3.7% y/y, above expectations, with core at 2.6%, driven by fuel and housing costs. The surprise has injected nervousness into tech markets, pressuring the Nasdaq as rate-cut expectations fade. The data signals persistent inflation, complicating Fed policy and raising downside risks for growth equities.