US stocks deepens losses after disappointing data

US stock indices fell on Tuesday, after the release of disappointing inflation data.

The US consumer price index rose by 0.3% in August, lower than forecasts of 0.4%. 

The core reading (excluding food and fuel prices) rose by 0.1%, lower than forecasts of 0.3%.

Investors are anticipating the next move of the US Federal Reserve, especially after hinting at reducing the size of its bond-buying program before the end of 2021.

To the oil market, WTI crude October futures rose less than 0.1% or 1 cent, and closed at $70.46 a barrel.

Brent November futures rose 0.1% or 9 cents, and closed at $73.60 a barrel, after breaching the $74 barrier earlier today.

As for stocks, Dow Jones fell 0.8% or 292 points, and closed at 34,577, and hit a day high of 34,990, and a low of 34,510.

S&P 500 fell 0.6% or 25 points to 4,443, after hitting a high of 4,485 and a low of 4,435.

Nasdaq fell 0.4% or 67 points to 15,037 points, with a high of 15,181 and a low of 15,008.