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Tech Stocks Drag Markets Lower Amid Rate-Cut Uncertainty
Tech Stocks Drag Markets Lower Amid Rate-Cut Uncertainty
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BTCCSquare news:
US equities faced renewed pressure Wednesday as technology shares extended their recent slump, casting doubt on the sustainability of the AI rally. The Nasdaq Composite fell 0.7%, erasing an earlier 2% plunge, while the S&P 500 dipped 0.2%. Only the Dow managed modest gains in a session marked by sector rotation out of growth stocks.
Palantir's 9% intraday drop followed Tuesday's 10% collapse, exemplifying the tech wreck. Target shares sank 6% after tariffs and consumer weakness overshadowed earnings, foreshadowing challenges for incoming CEO Michael Fiddelke. Market participants parsed Fed minutes showing dissent on rate policy remained isolated.
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