* Consumer Price Index rises 0.4% last month, above economists' 0.3% estimate
* Anthropic IPO expected to raise as much as $64.4 billion
NEW YORK, Nov 10 (Reuters) - US stocks stumbled on Tuesday, as a hotter-than-expected inflation reading cemented expectations for a rate hike from the Federal Reserve next month and fueled concerns the central bank may be more aggressive in raising rates.
The Labor Department said the Consumer Price Index increased 0.4% last month, its third straight gain of 0.4% or more and above the 0.3% estimate of economists polled by Reuters, after advancing 0.6% in September.
The data came after Fed Governor Christopher Waller said the central bank should raise short-term borrowing costs in December even if data shows inflation cooled last month, and should consider an upsized half-point rate hike if the inflation picture worsens.