Hot Inflation Report Drives Worst Stock Drop Since July — SkimNews
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- A hot inflation report drove the S&P 500, Dow, and Nasdaq lower, with tech stocks hit hardest in the broad selloff.
- AI stocks dropped sharply after the inflation data, bolstering market bets that the Federal Reserve will raise rates further.
Why it matters: Hotter-than-expected inflation strengthens the Federal Reserve's case to keep policy restrictive or hike further, directly raising borrowing costs for consumers and businesses while compressing the valuations of rate-sensitive tech and AI stocks that have anchored recent market gains.
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