Dow Jones falls 249 points, Nasdaq sheds 0.9% as hotter US inflation weighs on Wall Street
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- ✓The Dow Jones fell 249 points and the Nasdaq shed 0.9% on Tuesday (November 10) as hotter inflation data hit Wall Street.
- ✓Investors got worried after reports showed prices rose more than expected.
- ✓Many tech stocks fell, with semiconductor giants leading the losses as markets braced for more interest rate hikes.
Story at a Glance
- Category
- Indian Markets
- Reported By
- cnbctv18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Hotter-than-expected inflation data and aggressive rate hike signals from Fed officials triggered broad losses across Wall Street, with semiconductor giants leading the tech sell-off. Discover how chipmakers are responding to soaring borrowing costs and shifting market sentiment.
Wall Street traded lower on Tuesday (November 10), with technology stocks leading losses after hotter-than-expected US inflation data strengthened expectations of another Federal Reserve interest rate increase in December.
Comments from a key Fed official, who left the door open to a larger half-percentage-point hike, added to investor concerns.
The S&P 500 was trading 0.7% lower, while the Dow Jones Industrial Average declined 249 points, or 0.5%. The Nasdaq Composite was down 0.9%.
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