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Benzinga
Benzinga
Business
Henry Khederian

Why Applied Materials Shares Are Falling Today

Applied Materials Nasdaq Inflation United States

Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower by 3.89% to $103.06. Shares of technology and software companies are trading lower amid an overall market selloff following worse-than-expected US May inflation data.

Inflation concerns have weighed on the economic outlook and have also raised expectations for further Fed rate hikes. A rise in treasury yields has also weighed on tech and growth stock valuations.

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