Live: Wall Street retreats as hot inflation shortens odds of a rate hike, ASX set to slide

Wall Street retreated overnight as higher-than-expected inflation virtually cemented the likelihood of the Fed raising raising interest rates again next month.The ASX is set to surrender a large part of yesterday's gains with futures trading pointing to a 0.5 per cent fall on opening.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.Wed 11 Nov 2026 at 7:02amWed 11 Nov 2026 at 7:02amMarket snapshotASX 200 futures: -0.5% to 9,036 pointsASX 200 (Tuesday): +1.1% to 9,129 pointsAustralian dollar: -0.9% 68.63 US centsWall Street: S&P 500 -0.5%, Dow -0.3%, Nasdaq 1.1%Europe: Dax +0.3%, FTSE -0.3%, Eurostoxx600 +0.6%Spot gold: -2.7% to $US4,026/ounceOil: Brent futures -0.1.0 at $US91.68/barrel, WTI futures -0.7% to $US86.17/barrelIron ore: -0.4% to $US92.40/tonneCopper: +0.9% to $US13,888/tonneBitcoin: -2.2% $US73,27310-year bonds: US 4.99% Australia 5.01%Prices current at around 7:00am AEDTWed 11 Nov 2026 at 7:01amWed 11 Nov 2026 at 7:01amGood morningGood morning and welcome to another day on the ABC markets and finance blog.Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.Wall Street retreated overnight as hotter than expected inflation shortened the odds of the Fed raising rates in December.The ASX looks like giving up a large chunk of yesterday's gains. Futures trading is pointing to a 0.5% fall on opening (at 7:00am AEDT).The game's afoot, so let's get blogging.