As tech swoon roils market, US inflation data on tap
Jolted investors head into next week with the US stock market on shaky ground, as deep selling in the pivotal AI trade creates unease ahead of the release of inflation data and earnings reports from s...
Investors are bracing for a turbulent week as the US stock market struggles with a tech-induced sell-off, ahead of key inflation data and earnings announcements. The AI sector, particularly, took a significant hit following deep selling and concerns over the impact of recent US midterm elections on the AI industry. The Nasdaq Composite closed nearly 12% below its October 6 all-time high, signaling a potential correction.
Several tech companies, including CoreWeave, Applied Materials, and Cisco Systems, are set to release their earnings reports, adding to the uncertainty. The government will release the monthly consumer price index report on Tuesday, providing crucial insights into inflation trends. At the same time, major tech companies are expected to report their earnings, which could impact investor sentiment.
With the Federal Reserve likely to raise interest rates in December to combat inflation, the market remains on edge. The tech sector is underperforming the S&P 500, marking its largest decline since May 2002. Amidst the volatility, investors are closely watching for signs of potential recovery and cautious optimism in the tech and AI trade.
Written by urgent.news from Gulf 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.
- As tech swoon roils market, US inflation data on tap investing.com
