The Nasdaq dropped 1.9% and the S&P 500 fell 1.1% on October 14, their worst session since July. US inflation hit 3.7% in September, above expectations, reigniting speculation about a Fed rate hike as early as October 28. Technology stocks crashed 3%, with CoreWeave down 15.5%, Oracle 8.8% and AMD 5.7%. The probability of another rate hike climbed from 22% to 35% in a single day according to CME data. The selloff spread to Asia with the Kospi falling over 7%, and bitcoin dropped below $81,000.
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