Tech stocks weigh on Wall Street
Overall, the U.S. stocks declined, recording weekly losses due to drops in technology and AI-related companies, especially in the semiconductor sector, which fell more than 9% since the start of the week. Despite the Dow Jones Jones rising by 0.58%, the S&P 500 increased marginally by 0.03%, while the Nasdaq dropped by 0.54%. The market is affected by rising energy prices and inflation, which has reached its highest levels since 2022. It is also expected that the Federal Reserve will stick to its current policies without raising interest rates at its scheduled meeting at the end of October, with an 85% probability already reflected.
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