US stocks (^DJI, ^IXIC, ^GSPC) closed lower after September's Consumer Price Index (CPI) came in hotter than expected this morning. Meanwhile, the 10-year treasury yield (^TNX) hit its highest level since July.

Yahoo Finance Markets Reporter Josh Schafer breaks down his top takeaways from the trading day.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Melanie Riehl