From mint · · 1m
Nasdaq Drops on Inflation Data
Hot inflation data sparks rate-hike fears as Nasdaq falls sharply.
In brief
Hot inflation data sparks rate-hike fears as Nasdaq falls sharply. Hotter-than-expected US inflation data sent Nasdaq down 1.85% to 26,701.48 as investors worry about further Fed rate hikes. Originally reported by mint.
Inflation data
Hotter-than-expected US inflation data sent Nasdaq to a sharply lower close on Wednesday.
AI stocks fall
Oracle, CoreWeave and Nebius tumbled as investors worried about higher borrowing costs.
Semiconductor index drops
Philadelphia SE Semiconductor index fell for a sixth straight session, its longest losing streak since May 2025.
Market reaction
S&P 500 lost 83.96 points to end at 7,721.49 while Nasdaq Composite lost 502.90 points to 26,701.48.
Fed rate hike concerns
Investors price in 37% chance of Fed rate hike this month, up from 22% on Tuesday.
Market impact
Bank of America fell after setting aside $1.2 billion for regulatory fines related to money laundering.
In short
Hotter-than-expected US inflation data sent Nasdaq down 1.85% to 26,701.48 as investors worry about further Fed rate hikes.
