{"id":74474,"date":"2026-11-10T17:08:14","date_gmt":"2026-11-10T21:08:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-slumps-as-feds-bowman-signals-inflation-persistence-anthropic-ipo-buzz-grows\/74474\/"},"modified":"2026-11-10T17:08:14","modified_gmt":"2026-11-10T21:08:14","slug":"wall-street-slumps-as-feds-bowman-signals-inflation-persistence-anthropic-ipo-buzz-grows","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-slumps-as-feds-bowman-signals-inflation-persistence-anthropic-ipo-buzz-grows\/74474\/","title":{"rendered":"Wall Street Slumps as Fed\u2019s Bowman Signals Inflation Persistence; Anthropic IPO Buzz Grows"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Major U.S. indices closed lower<\/strong> on Tuesday, with the <strong>NASDAQ<\/strong> leading the decline by dropping <strong>0.69% (172.90 points)<\/strong> to finish at <strong>25,080.24<\/strong>.<\/li>\n<li><strong>Fed Governor Michelle Bowman<\/strong> signaled a hawkish shift, stating she needs to see <strong>AI-related demand and Middle East risks abate<\/strong> before gaining confidence that inflation will hit the 2% target.<\/li>\n<li><strong>Secondary market activity for Anthropic<\/strong> intensified, with backers reportedly marketing <strong>$500 million<\/strong> in IPO share blocks carrying hefty <strong>3% to 5% fees<\/strong>.<\/li>\n<li><strong>Political leadership solidified<\/strong> as Senator <strong>John Thune<\/strong> was reelected as Senate Republican Leader by acclamation following the recent midterm elections.<\/li>\n<li><strong>Geopolitical tensions remain high<\/strong> as Ukrainian President Zelenskiy expressed skepticism regarding Russia&#39;s readiness for leader-level peace talks, citing a &quot;different reality&quot; in Moscow.<\/li>\n<\/ul>\n<h2>Markets Retreat Amid Hawkish Fed Rhetoric<\/h2>\n<p>U.S. equity markets finished in the red on Tuesday as investors processed cautious commentary from Federal Reserve Vice Chair for Supervision <strong>Michelle Bowman<\/strong>. The <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> fell <strong>0.38%<\/strong> to close at <strong>7,521.50<\/strong>, while the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/strong> slipped <strong>0.29%<\/strong> to end at <strong>52,237.81<\/strong>. The tech-heavy <strong>NASDAQ<\/strong> bore the brunt of the selling pressure, falling nearly <strong>0.7%<\/strong> as yields reacted to the prospect of &quot;higher-for-longer&quot; interest rates.<\/p>\n<p>Governor Bowman noted that while the labor market has improved and is no longer &quot;tight,&quot; <strong>CPI data suggests inflation pressures may persist<\/strong>. She estimated that <strong>Core PCE likely rose 3.3% in October<\/strong>, driven by energy prices and surging <strong>AI-related demand<\/strong>. Bowman emphasized that further policy tightening remains a possibility if progress on inflation stalls, noting that she is shifting her primary focus back to price stability.<\/p>\n<h2>Anthropic IPO Speculation and Private Secondary Sales<\/h2>\n<p>In the private markets, excitement surrounding the artificial intelligence sector reached a fever pitch. Backers of the AI startup <strong>Anthropic<\/strong> are reportedly marketing advance IPO allocations to investors. These sellers are offering a block of shares worth up to <strong>$500 million<\/strong>, though the opportunity comes with significant costs, including marketing fees ranging from <strong>3% to 5%<\/strong>.<\/p>\n<p>This secondary market activity suggests high demand for exposure to top-tier AI firms before they hit public exchanges. Investors are closely watching the valuation of <strong>Anthropic<\/strong> as it competes with industry leaders like <strong>OpenAI<\/strong> and Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>). The high fees associated with these pre-IPO blocks indicate a <em>competitive environment for private equity allocations<\/em> in the current tech landscape.<\/p>\n<h2>Political and Geopolitical Developments<\/h2>\n<p>On Capitol Hill, the Republican party maintained its leadership structure following the midterm cycle. Senator <strong>John Thune<\/strong> was reelected as the Senate GOP Leader by acclamation, signaling stability within the party. Meanwhile, Senate Democrat <strong>Chuck Schumer<\/strong> expressed &quot;great unity&quot; among his caucus, stating he is confident he will be elected as the Majority Leader.<\/p>\n<p>On the international front, Ukrainian President <strong>Volodymyr Zelenskiy<\/strong> addressed the ongoing conflict, stating that Ukraine is ready for high-level meetings but doubts Russia&#39;s sincerity. Zelenskiy claimed that Russian leadership is &quot;living in a different reality,&quot; specifically noting discrepancies in territorial control claims in the <strong>Donbas<\/strong> region. Concurrently, Iran\u2019s Parliamentary Speaker <strong>Ghalibaf<\/strong> highlighted that <strong>China<\/strong> is playing a &quot;prominent role&quot; in diplomatic efforts to end regional hostilities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major U.S. indices closed lower on Tuesday, with the NASDAQ leading the decline by dropping 0.69% (172.90 points) 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