Wall Street futures fall on rate fears
U.S. stock futures, particularly for the Nasdaq, have declined by more than 2% so far, amid concerns over potential interest rate hikes and increasing corporate spending on artificial intelligence. Shares of major technology companies, such as Nvidia and Alphabet, have dropped by up to 3%, while the VIX index has risen to its highest level in over a week, as markets anticipate the Federal Reserve raising interest rates by a total of 50 basis points by December. This decline reflects investors' worries over high valuations and rising financing costs in the tech sector.
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