US EditionWall Street drops to one of its worst days since April on worries about AI stocks and interest rates
- On Thursday, the S&P 500 sank 1.5%, marking the market’s worst day in a month.
- Investors worried AI superstar stock prices had shot too high as expectations for a December Federal Reserve rate cut fell to 47.6% from nearly 70%, CME Group data show.
- Nvidia led losses after falling 4.7%, while Super Micro Computer dropped 7.6%, Palantir Technologies 6.6%, and Broadcom slid 4.7%.
- The slide pulled the S&P 500 farther from its all-time high set late last month, and investors and analysts drew comparisons to the 2000 dot‑com bubble.
- Doug Beath warned the 'looming data deluge' may spur additional volatility in the coming weeks as the Fed’s job became more difficult recently due to the U.S. government six-week shutdown.
75 Articles
75 Articles
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Asian stocks closed lower following Wall Street, amid selling in technology stocks and weakening expectations for Fed rate cuts • In Europe, the FTSE is down about 1%, the CAC index is down about 0.4%, and the DAX loses 0.7% of its value • Bitcoin continues to crash • The US and South Korea have published details of their trade agreement, which includes Korean investment of $350 billion
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