Wall Street falls on tech losses amid rate hike fears

The U.S. stock markets closed sharply lower due to the emergence of inflation data higher than expected, which increased concerns about the Federal Reserve raising interest rates again. The Nasdaq index fell by 1.85%, and the S&P 500 declined by 1.08%, while the Dow Jones experienced a slight decrease. Expectations indicate that the odds of a rate hike have risen to 37% during the October meeting, driven by the increase in annual inflation to 3.7%. This threatens the sustainability of stock gains and particularly impacts the technology sector and major companies involved in artificial intelligence.

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