The Globe and Mail reports in its Wednesday edition that North American stocks closed lower on Tuesday, as a hotter-than-U.S. inflation reading hardened expectations for a rate hike from the Federal Reserve next month. A Reuters dispatch to The Globe quotes the U.S. Labour Department saying the Consumer Price Index increased 0.4 per cent last month, its third straight gain of 0.4 per cent or more. The data came after Fed Governor Christopher Waller said the central bank should raise short-term borrowing costs in December even if data showed inflation cooled last month, and should consider a half-point rate hike if the inflation picture worsens. Markets are now fully pricing in a rate hike of at least 25 basis points at the Fed's December meeting, according to CME FedWatch. U.S. crude oil futures settled 0.9 per cent lower at $86.04 (U.S.) a barrel. The S&P 500 technology sector dropped 1.4 per cent on Tuesday as the worst-performing of the 11 major sectors, weighed down by another drop in Nvidia. It has tumbled 9.6 per cent over the past two sessions. The S&P/TSX Composite Index ended down 275.81 points at 36,170.45. The mining/materials sector was the biggest drag on the index. Gold and copper both dropped.