From BigGo Finance · BigGo Finance · · 50s
Dow Rebounds but Tech Selloff Continues
PPI acceleration hits AI stocks as Dow rises.
In brief
PPI acceleration hits AI stocks as Dow rises. Dow rebounds 138 points to 51,760 while tech stocks fall amid rising inflation fears. Originally reported by BigGo Finance.
Dow Rebounds
Dow Jones Industrial Average rose 138 points to 51,760 in New York morning trading.
Tech Selloff Continues
Nasdaq Composite extended losses to 318 points amid AI-related stock declines.
PPI Acceleration
September U.S. Producer Price Index rose 6.3% year-over-year, accelerating inflation concerns.
AI Stocks Fall
CoreWeave dropped 8% and TSMC fell 4.2% as AI investment financing worries grow.
Inflation Data
September CPI rose 3.7% year-over-year, exceeding market expectations of 3.6%.
Market Reaction
Defensive sectors gained while tech stocks faced selling pressure from inflation concerns.
What Happens Next
Market focuses on Fed Chair Warsh's fireside chat ahead of FOMC meeting on 27th-28th.
The bottom line
Dow rebounds 138 points to 51,760 while tech stocks fall amid rising inflation fears.
