U.S. stocks close》Inflation raises concerns about interest rate hikes! Fees fell 4.3%, TSMC ADR fell 3.4%

U.S. stocks ended lower on Wednesday. (AFP)

[Instant News/Comprehensive Report] U.S. inflation data for September exceeded expectations, and the market is worried that the U.S. Federal Reserve (Fed) will further raise interest rates, putting pressure on AI technology stocks that are sensitive to rising borrowing costs. The Dow Jones Industrial Average fell 48.62 points or 0.09%, the S&P 500 Index fell 1.11%, the Nasdaq Index fell 1.88%, the Philadelphia Semiconductor Index fell 4.3% for the sixth consecutive time, and TSMC ADR fell $15.12, 3.4%, to close at $430.

According to foreign media reports, the U.S. Bureau of Labor Statistics announced on Wednesday that the consumer price index (CPI) increased by a seasonally adjusted 0.6% monthly in September, in line with Dow Jones economists' expectations; the annual increase was 3.7%, higher than the expected 3.6%. Data show that the cost of living in the United States continues to rise, and the inflation rate is still well above the 2% target set by the Fed.

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The market is generally expecting that the Fed will need to further raise interest rates to curb inflation, which has dealt a heavy blow to stocks that have risen sharply this year. Investors are also worried that technology companies will borrow too much to promote the booming development of AI. Oracle fell 8.85%, AI infrastructure company CoreWeave fell 15.46%, and the decline in chip stocks further intensified. Micron fell 4.08%, Sandisk fell 5.33%, AMD fell 5.73%, Intel fell 4.56%, and Huida fell 3.16%.

In addition to the technology field, banking giant Bank of America's third-quarter revenue was lower than expected, and it was fined more than $1.2 billion in federal fines. Its stock price fell 4.76%. Morgan Stanley's latest quarterly results beat expectations, but ended down nearly 3%.

The Dow Jones Industrial Average fell 48.62 points, or 0.09%, to close at 51,621.48 points.

The S&P 500 index fell 86.51 points, or 1.11%, to close at 7718.94 points.

The Nasdaq index fell 511.51 points or 1.88% to close at 26692.87 points.

The Philadelphia Semiconductor Index fell 524.41 points, or 4.30%, to close at 11,684.38 points.

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