Tech Selloff Resumes As Fed Rate Cut Hopes Fade: Palantir Eyes Worst Month Since 2023

Benzinga

The Nasdaq 100 slipped 0.83% as a late selloff in tech and AI names deepened broader market declines ahead of the Fed’s Dec. 10 meeting. Rate-cut expectations shifted after mixed signals from Fed officials, while Nvidia lost nearly $200 billion in value and Palantir extended steep monthly losses.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02The Nasdaq 100 fell 0.83% on Monday as a late-day sell-off in tech and AI-linked stocks

00:09accelerated broader market declines, according to Benzinga. The S&P 500 dropped 0.92%

00:16and renewed pressure followed a shift in rate-cut expectations ahead of the Federal

00:20Reserve's December 10 meeting. The CME FedWatch tool showed a 55% chance that rates would stay

00:26at 3.75% to 4% after comments from Fed Vice Chair Philip Jefferson signaled caution about

00:32limited incoming data. Governor Christopher Waller said the labor market is weak and supported

00:37continued cuts. High-growth AI and chip stocks led the market's decline. NVIDIA lost nearly

00:43$200 billion in value, and Palantir extended a monthly drop of more than 15%.

00:49For all things money, visit Benzinga.com.

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