Nasdaq 100 Drops 1% on Hot CPI, SOXX Falls 7th Day: Stock Market Today
The Nasdaq 100 fell 1% by midday Wednesday after September CPI topped forecasts, pushing Treasury yields and rate-hike bets higher.
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Major indices are trading lower as Treasury yields rise and AI-related stocks extend losses following hotter-than-expected September consumer inflation data. The stronger inflation reading has fueled concerns that interest rates will remain elevated for longer, putting additional pressure on growth stocks and other rate-sensitive sectors.
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Live On Yahoo Finance, Fed's Goolsbee Says Doesn't Want To Tie Hands On Monetary Policy Outlook; If Current Inflation Levels Hold Policy Would Need To Address That; Consumers, GDP And Investment Levels Have Been Strong; AI Hype Could Cause Even More Tech Sector Investment, Would Risk Overheating, Slowdown In AI Investment Doesn't Have To Mean Recession; Want To Keep Eye On Financial Stability Implications Of AI Investment
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