US stocks: Nasdaq ends sharply lower as hot inflation data stirs rate-hike worries
US inflation data for September shows an unexpected rise due to increased gasoline costs and broader price pressures. As a result, the Nasdaq index closed sharply lower, influenced by concerns over potential interest rate hikes. Major AI-related stocks, including Oracle and CoreWeave, experienced significant declines following the inflation report. In financial news, Bank of America reported...
Key Takeaways
- US inflation data for September shows an unexpected rise due to increased gasoline costs and broader price pressures.
- As a result, the Nasdaq index closed sharply lower, influenced by concerns over potential interest rate hikes.
- Major AI-related stocks, including Oracle and CoreWeave, experienced significant declines following the inflation report.
US inflation data for September shows an unexpected rise due to increased gasoline costs and broader price pressures. As a result, the Nasdaq index closed sharply lower, influenced by concerns over potential interest rate hikes. Major AI-related stocks, including Oracle and CoreWeave, experienced significant declines following the inflation report. In financial news, Bank of America reported a decrease in profits due to regulatory costs.
Original Publisher Attribution
This summary was curated from Economic Times.