Nasdaq ends sharply lower as hot inflation data stirs rate-hike worries
The Nasdaq declined 1.88% to 26,692.87 points, its biggest daily drop since July 23.
Inflation figures released on October 14 sent the Nasdaq into a sharp decline, with investors concerned over impending Federal Reserve interest rate hikes. Tech giants such as Oracle and AI infrastructure firms CoreWeave and Nebius saw significant drops in their shares, while other tech companies like Dell and Hewlett Packard Enterprise also suffered losses.
The Philadelphia Semiconductor Index dropped 4.3%, marking its longest losing streak since May 2025. The probability of a Federal Reserve rate hike this month rose to 37% from 22% the day prior. Adam Sarhan, CEO of 50 Park Investments, stated that investors were unhappy with the report as it pressures the Fed to raise rates to combat inflation.
The S&P 500 ended the day down 1.11% to 7,718.94 points, its biggest one-day drop since July 29, while the Nasdaq dipped 1.88% to 26,692.87 points, its largest daily decline since July 23.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Nasdaq ends sharply lower as hot inflation data stirs rate hike worries businesstimes.com.sg
- Nasdaq ends sharply lower as hot inflation data stirs rate-hike worries freemalaysiatoday.com
