00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Wall Street suffered its worst day in months Wednesday, as hotter-than-expected inflation
00:07and a technology sell-off rattled investors, according to the Wall Street Journal.
00:11The Nasdaq fell 1.9%, while the S&P 500 dropped 1.1%, marking their steepest one-day declines
00:18since July. Core consumer prices rose 0.3% in September, above economists' expectations of
00:240.2%. Traders briefly raised the probability of an October Federal Reserve rate hike to 50%,
00:29up from 20% before the report. Concerns about rising borrowing costs and debt-financed AI
00:34expansion accelerated losses across technology stocks. Core Weave plunged more than 15%,
00:40while semiconductor stocks extended a six-day losing streak. Investors sought safety in
00:44treasuries as technology stocks tumbled, pushing the 10-year treasury yield lower by the close.
00:49For all things money, visit Benzinga.com.
