The stock market experienced a significant downturn today, with tech stocks leading the decline. The Dow Jones slipped 1.65% to 47,457.22, the S&P 500 lost nearly 1.7% to 6,737.49, and the Nasdaq sank 2.29% to 22,870.35.
Fed officials expressed worries about persistent inflation, reducing hopes for rate cuts in December. The market’s sentiment shifted to risk-off, pulling CNN’s Fear & Greed Index back into “extreme fear” territory. As a result, tech and AI stocks faced substantial losses.
