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The Economic Times

Business

US stocks: Nasdaq ends sharply lower as hot inflation data stirs rate-hike worries

Inflation Interest Rates Stock Market United States US Federal Reserve CoreWeave Oracle Bank of America Petrol

Hotter-than-expected inflation data sent the Nasdaq to a sharply lower close on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs.

Increased bets that the Fed will hike rates further to tame inflation dealt a sharp blow to some of the market's biggest gainers of 2026. Oracle, CoreWeave and Nebius all tumbled.

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