00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. stocks fell Thursday as investors braced for a wave of delayed government data and
00:07pulled back on expectations for a December rate cut after the shutdown ended.
00:11The S&P 500 and Dow each fell 1.7 percent, and the Nasdaq dropped 2.3 percent, marking
00:18their steepest declines since October 10th, according to The Wall Street Journal.
00:22Tech stocks led losses as CoreWeave slid 8.3 percent, NVIDIA fell 3.6 percent, Oracle
00:29dropped 4.1 percent, and Tesla declined 6.6 percent.
00:34Investors remain optimistic about AI-driven tech, but are rotating out of high-priced growth
00:39names into cheaper stocks and trimming rate-cut expectations.
00:43PGIM Quantitative Solutions' Jeff Young said markets grew too confident about rate cuts
00:48after the Fed's September forecast, which hit a divide between officials worried about labor
00:52weakness and those focused on inflation above target.
00:56He said upcoming data should clear-
00:57For all things money, visit Benzinga.com.
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