Market Meltdown: S&P 500 and Nasdaq See Steepest Decline in a Month, Tech Stocks Lead the Way – Live Updates from CNBC
The S&P 500 and Nasdaq experienced their worst day in over a month on Tuesday, with technology stocks leading the decline. The tech-heavy Nasdaq fell by 2.6%, while the S&P 500 dropped by 1.6%.
Investors were spooked by rising inflation concerns and fears of a potential interest rate hike by the Federal Reserve. Tech giants like Apple, Microsoft, and Amazon all saw significant losses, dragging down the broader market.
The sell-off comes after a period of strong gains for both indexes, as investors have been optimistic about the economic recovery and corporate earnings. However, recent data showing a spike in consumer prices has raised concerns about inflation and its potential impact on the market.
Analysts are urging caution as volatility continues to shake the markets. With uncertainty looming, investors are advised to closely monitor their portfolios and consider diversifying their holdings to protect against potential losses.
Stay tuned for live updates as the situation develops.