Episode Details

The S&P 500 slid on Wednesday, the final day of September, even after new U.S. economic data showed inflation slowed last month.

The broad-market index dropped 0.25%, giving up its gains from earlier in the trading day and closing at 7,651.54. The S&P 500 was up as much as nearly 0.7% at one point during the session. The Nasdaq Composite advanced 0.24% to end at 26,861.06. The Dow Jones Industrial Average fell 0.86%, or 443.87 points, to 50,906.05. 

The personal consumption expenditures price index for August increased at an annual rate of 3.4%, down from 3.7% the month prior. Economists surveyed by Dow Jones had been looking for inflation to remain steady at 3.7%. Even more encouraging was core PCE, excluding food and energy, which rose 3% year on year, down from 3.3% the month before and also lower than economists had forecast.

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