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US Markets Slide Sharply as Tech Selloff Intensifies
Dow Jones sank 500 points as tech-led selling deepened, pushing the S&P 500 and Nasdaq lower while rate-cut expectations faded amid Fed caution.
US equities witnessed a broad decline with the Dow Jones falling 500 points, while the S&P 500 and Nasdaq each dropped over 1% as renewed selling hit major technology names. Investor expectations for near-term rate cuts weakened following cautious Federal Reserve commentary. Rising Treasury yields and stretched valuations in mega-cap tech contributed to the downturn.
Analysts noted that volatility is expected to remain elevated ahead of key inflation and labor-market data. The pullback reflects growing uncertainty around the timing of monetary easing.