Wall Street declines as NASDAQ hits correction

The U.S. stock markets declined at the close of Wednesday's trading, with the Nasdaq 100 entering correction territory, falling by 1.8% to close more than 11% below its June highs, reflecting continued pressure on the technology sector. The Philadelphia Semiconductor Index also dropped by 5.3%, marking its fifth consecutive session of losses, while the S&P 500 decreased by 1.5%. This occurred amid the Federal Reserve's refusal to raise interest rates, despite some financial institutions expecting further tightening to combat inflationary pressures. Additionally, geopolitical tensions escalated, and oil prices surged by over 7%, particularly after Trump's threats against Iran, fueling concerns about the potential impact on the markets and the U.S. economy.

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