Tech Stocks Slide Amid Rate Hike Fears

The stock market took a sharp turn this week as the S&P 500 plunged 0.9%, driven by a tech-heavy sell-off fueled by AI hype. Despite more stocks rising, massive tech giants like Nvidia and Micron dragged the index down. Global markets followed suit, with South Korea’s Kospi nosediving 10%. The pullback comes amid growing odds of Fed rate hikes later this year, which could slow growth and hurt AI-driven investments. With inflation surging and oil prices still elevated, uncertainty is mounting for investors, especially those riding the tech boom that’s surged 27% in three months. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/fbf085e8165469c1