{
  "id": 17746380,
  "title": "Nasdaq Falls 2.9% on Fed Hike Fears | Global Economy, Nov 2",
  "url": "https://urgent.news/2026/11/02/nasdaq-falls-2-9-on-fed-hike-fears-global-economy-nov-2",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T04:18:27.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/global-economy-briefing-november-2-2026/"
  },
  "original_language": "en",
  "account": "The Federal Reserve turned its focus from rate cuts to potential hikes after its meeting on October 28, with two members dissenting in favor of a quarter-point increase. Polymarket, a betting market, now estimates a 70% chance of a December rate hike. This shift in expectations coincided with a tech decline on Friday, causing the Nasdaq, which houses major American tech firms, to close at 25,437, marking a 2.86% drop and its lowest close in over three months. Investors are now questioning companies' spending on artificial intelligence as cheap money is no longer available. Factors contributing to the market's unease include a soft China survey and oil prices nearing $100 a barrel, especially ahead of the US midterm elections on November 3. The Federal Reserve's 10-2 vote to maintain rates in October implied a louder message: two members supported a rise. The VIX fear gauge rose to 19.42, indicating a nervous market rather than a panicked one. While gold and silver prices fell alongside equities, this could be attributed to a longer-term rate story rather than a flight to safety. The US jobs report on November 6 will be crucial, as a strong number may solidify the case for a December rate hike.",
  "summary": "A Fed rate hike in December is now the market's base case as a tech selloff, a weak China PMI and dearer oil jolt world markets before US midterm elections. The post Nasdaq Falls 2.9% on Fed Hike Fears | Global Economy, Nov 2 appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}