周二，美国股市承压，此前一份报告显示，上月全国通胀情况比经济学家预期的更糟。
U.S. stocks were under pressure Tuesday after a report showed inflation was worse across the country last month than economists expected.
标准普尔500指数下跌0.7%，吐掉了前一天大幅反弹的部分涨幅。截至东部时间上午10时45分，道琼斯工业平均指数下跌333点，即0.6%，纳斯达克综合指数下跌0.8%。
The S&P 500 fell 0.7 per cent and gave back some of its big rally from the day before. The Dow Jones Industrial Average was down 333 points, or 0.6 per cent, as of 10:45 a.m.
上月美国通胀高于预期，表明推动上周中期选举中民主党取得全面胜利的物价上涨，将继续给白宫和美联储带来挑战。
Eastern time, and the Nasdaq composite was 0.8 per cent lower.
美国劳工部周二表示，消费者价格指数从9月到10月上涨0.4%，低于前一个月的0.6%。由于去年政府停摆，2025年10月没有发布数据，因此政府未公布年度通胀率。
U.S. inflation was higher than expected last month, signaling that rising prices that powered sweeping Democratic victories in last week’s midterm elections will continue posing challenges for the White House and the Federal Reserve. The consumer price index rose 0.4 per cent from September to October, the Labor Department said Tuesday, down from 0.6 per cent the previous month.
剔除波动较大的食品和能源类别后，核心价格上涨0.3%，与前一个月持平。两项数据均比预期高出十分之一个百分点。
The government did not report a yearly inflation rate because last year’s government shutdown meant no data was released for October 2025. Excluding the volatile food and energy categories, core prices rose 0.3 per cent, the same as the preceding month.
在令人沮丧的通胀报告发布后，债市压力削弱了股市。人们上月为杂货、电力和其他生活成本支付的价格，甚至比经济学家预期的还要高。这可能促使美联储在12月及以后的会议上上调其基准利率。
Both figures were a tenth of a point higher than forecast. Pressure from the bond market undercut stocks following the discouraging report on inflation. People had to pay prices for groceries, electricity and other costs of living that were even higher last month than economists expected.
较高的利率有助于抑制通胀，但其方式是让每个人借款更昂贵，并拖慢整体经济。较高的利率也会让投资者不愿意为股票和其他投资支付高价。
That could push the Federal Reserve to hike its main interest rate at its next meeting in December and beyond. Higher interest rates can help rein in inflation, but they do so by making it more expensive for everyone to borrow money and by slowing the overall economy.
获取每周金融新闻。一位美联储官员甚至暗示，由于通胀多年来居高不下，央行下个月可能将联邦基金利率上调幅度提高至通常水平的两倍。
Higher rates also make investors less willing to pay high prices for stocks and other investments. Get weekly money news One Fed official even hinted the central bank may increase the federal funds rate by double the typical amount next month because of how high inflation has remained for years.
美联储理事克里斯托勒·沃勒在伦敦发表讲话时，在通胀报告发布前表示，如果报告显示一项重要的潜在通胀指标较9月上涨0.3%，则“可能需要采取更强有力的政策举措”。
Speaking in London before the inflation report was released, Fed Gov. Christopher Waller said “a stronger policy move may be needed” if the report showed an important underlying measure of inflation rose by 0.3 per cent from September.
他说，在这种情况下，美联储应考虑将联邦基金利率上调半个百分点，而非通常的四分之一百分点。只按通常幅度行动可能“会让我们的信誉面临风险，这是我不愿承担的风险”。此后不久，周二的通胀报告显示，沃勒担忧的那项潜在通胀指标正好为0.3%，即他设定的阈值。美联储的职责是控制通胀，同时保持就业市场强劲。
In that case, he said the Fed should consider hiking the federal funds rate by half a percentage point rather than the typical quarter point. Moving by only the usual amount could “put our credibility at risk, a risk I am not eager to take.”Shortly afterward, Tuesday’s inflation report showed that the underlying measure of inflation Waller was worried about was exactly 0.3 per cent, the threshold he had set. It’s the Fed’s job to keep inflation under control, along with keeping the job market strong.
这导致债券市场收益率跳升，交易员上调了对美联储未来加息的预期。
That sent yields jumping in the bond market as traders upped their forecasts for coming hikes to rates by the Fed.
10年期国债收益率从周一晚间的4.88%跳升至4.99%。这是债券市场的显著波动，该收益率有助于决定美国家庭和企业的抵押贷款及其他贷款利率。
The yield on the 10-year Treasury jumped to 4.99 per cent from 4.88 per cent late Monday. It’s a notable move for the bond market, and the yield helps set where rates are for mortgages and other loans going to U.S. households and businesses.
10年期国债收益率自10月初以来一直下跌，当时由于对高通胀、高利率、美国政府巨额债务及其他担忧激增，收益率曾超过5.30%。
The 10-year Treasury yield had been dropping since early October, when it topped 5.30 per cent as worries spiked about high inflation, higher interest rates, the U.S. government’s big debt and other concerns.
周二收益率的跳升发生在油价再次下跌之际。布伦特原油每桶价格下跌2.4%，至90.31美元。特朗普总统周一晚间表示，将油价大幅推高的伊朗战争“在军事上实际上已经结束”。布伦特原油价格本月早些时候曾超过112美元，此后一直下跌，市场对伊朗战争走向存在不确定性。
Tuesday’s jump in yields came even though oil prices fell again. The price for a barrel of Brent crude oil sank 2.4 per cent to US$90.31. President Donald Trump said late Monday that the war in Iran, which sent oil prices much higher, “militarily is effectively over.”Brent’s price has been falling from more than $112 at the start of the month amid uncertainty about what will happen with the war with Iran.
国债收益率上升会推低各类股票价格，尤其可能对房地产行业公司造成打击。
Jumps in Treasury yields push downward on prices for all kinds of stocks, and they can particularly hurt companies in the real-estate business.
高抵押贷款利率可能会让潜在客户远离房屋建筑商，例如，Lennar下跌5%，成为标准普尔500指数中跌幅较大的股票之一。
Higher mortgage rates can keep potential customers away from homebuilders, for example, and Lennar fell five per cent for one of the sharper losses in the S&P 500.
竞争对手房屋建筑商也下跌，包括D.R. Horton下跌4.3%，PulteGroup下跌4.3%。Builders FirstSource向房屋建筑商销售装饰线条、橱柜及其他产品，下跌5.3%。
Rival homebuilders also fell, including drops of 4.3 per cent for D.R. Horton and 4.3 per cent for PulteGroup. Builders FirstSource, which sells crown mouldings, cabinets and other products to homebuilders, sank 5.3 per cent.
标准普尔500指数中拖累最重的单一股票是英伟达，下跌5.3%。自其董事会宣布对其首席执行官黄仁勋展开调查以来，该股一直承压。黄仁勋承认与一名女性有关系，据《纽约时报》报道，美国情报部门认定该女性正在为中国收集信息。
The single heaviest weight on the S&P 500 was Nvidia, which fell 5.3 per cent. It’s been under pressure since its board announced an investigation into its CEO, Jensen Huang, who admitted to a relationship with a woman who, according to The New York Times, U.S. intelligence determined was gathering information for China. It’s also been swinging amid broader worries that have knocked the artificial-intelligence industry around recently.
该股还受到近期冲击人工智能行业的更广泛担忧而波动不定。上周，民主党在全国各州议会取得胜利，引发了对可能限制人工智能数据中心建设的担忧。这叠加了此前已有的长期担忧，即人工智能股价已涨得过高，处于泡沫之中。
Democratic victories in statehouses across the country last week raised concerns about possible restrictions on construction of AI data centres. That built on top of already longstanding worries that AI stock prices had shot too high and were in a bubble. Outside of Nvidia, other stocks in the AI industry were mixed.
除英伟达外，人工智能行业的其他股票表现不一。GE Vernova正在帮助为人工智能数据中心供电，下跌7.2%。美光科技销售计算机内存，早盘曾在涨跌之间波动，最终下跌2.3%。
GE Vernova, which is helping to power AI data centres, dropped 7.2 per cent. Micron Technology, which sells memory for computers, fell 2.3 per cent after flipping between gains and losses earlier in the morning. But Advanced Micro Devices climbed 2.6 per cent.
但超微电脑上涨2.6%。CoreWeave是一家通过云端向客户出租人工智能芯片使用权的公司，表现相对较好，上涨0.8%。
CoreWeave, a company that rents out access to AI chips to customers over the cloud, also held up better. It added 0.8 per cent.
人工智能相关股票近期的动荡引发了疑问：Anthropic（Claude聊天机器人的开发公司）是否可能推迟其首次公开募股。
The recent shakiness for AI-related stocks had raised questions about whether Anthropic, the company behind the Claude chatbot, may delay its initial public offering of stock.
Anthropic周二在美国监管机构提交的文件中表示，该公司计划出售股票，估值约为1.3万亿美元。这将使其成为华尔街最有价值的公司之一，价值超过沃尔玛、摩根大通、埃克森美孚或可口可乐。在海外股市，欧洲和亚洲大部分地区的股指均上涨。
But Anthropic said in a filing with U.S. regulators on Tuesday that it’s looking to sell its stock at a price valuing the company at roughly $1.3 trillion. That would make it one of the most valuable companies on Wall Street, worth more than Walmart, JPMorgan Chase, ExxonMobil or Coca-Cola. In stock markets abroad, indexes rose across much of Europe and Asia.
韩国综合股价指数上涨4.4%，成为全球涨幅最大的股指之一，原因是其两家从人工智能热潮中受益的科技巨头三星电子和SK海力士表现强劲。
South Korea’s Kospi jumped 4.4 per cent for one of the world’s biggest gains on strength for its two tech giants that have benefited from the AI boom, Samsung Electronics and SK Hynix.