Major U.S. indexes fell as PPI data pushed rate hike probabilities to 73%, while oil prices surged on geopolitical tensions and retail stocks faced heavy selling pressure.
AeroVironment surged 4.5% on strong earnings and record backlog.
Cooper Companies sank 15% post-earnings on disappointing results.
Analyst downgrade and bearish call sent Nike to a 12-year low.
American Eagle dropped 14% after earnings miss.
Gold futures fell 2.1% as rising yields and dollar strength weighed.
Intel dropped 5.5% as chip stocks sold off on inflation and rate concerns.
Micron fell 5% along with memory chip ETF DRAM decline.
Macy's fell 5% following a disappointing retail earnings report.
S&P 500 fell 0.6%, extending losing streak on rate hike fears.
Brent crude surged 6.6% to $107.90 on Iran conflict supply fears.
WTI rose 6.9% above $102 as oil prices extended gains.
Oracle fell 5% ahead of earnings amid tech weakness.
Dollar index rose 0.3% on heightened rate hike expectations.
Shares fell 2.5% amid a broader tech decline and rising rate hike expectations.
Stock rose 3.5% as investors rotated into defensive mega-caps.
Nasdaq dropped 0.7% as tech stocks led declines.
Dow Jones fell 0.6% in broad market sell-off.
Adobe dipped 2.5% ahead of its quarterly results in a risk-off market.
Shares fell 1.5% after a recent surge on AI news, reversing some gains.
Bitcoin edged lower amid rising rates and risk-off sentiment.
U.S. markets extended their losing streak as wholesale inflation data fueled expectations of a Federal Reserve rate hike next week. The S&P 500, Nasdaq, and Dow all finished lower, while Treasury yields surged to multi-year highs. Investors are now bracing for Friday's Consumer Price Index report to provide further clarity on the central bank's policy path.
Markets are declining due to persistent inflation concerns and rising Treasury yields, which have increased the likelihood of a Federal Reserve interest rate hike at the upcoming policy meeting.
The CPI report is a critical inflation gauge that will influence the Federal Reserve's decision on whether to raise interest rates to combat elevated price levels.