Nasdaq Falls as Nvidia Selloff Continues Despite Cooler Inflation
Tip Ranks·
- U.S. stocks declined on Friday, led by a 1.8 % drop in the Nasdaq 100 and continued losses in technology shares despite cooler-than-expected monthly wholesale inflation data.
- Investor concerns over potential Federal Reserve rate hikes intensified as annual wholesale inflation reached 6.5 %, while semiconductor stocks tumbled amid Nvidia selloffs and broader tech sector pressures.
- Meanwhile, Cerebras Systems gained over 6 % on strong quarterly results, and oil prices rose following geopolitical developments related to Iran.
