Posted 4/10/2024, 9:03:00 PM
Stocks Drop and Yields Surge As Hot Inflation Data Damps Hopes for Fed Pivot
- Dow futures edge lower after hot CPI data; markets price out Fed rate cuts through July
- Broad market weakness Wednesday despite rebound in Nvidia; small caps, key ETFs break support
- Treasury yields surge, markets now see just 2 Fed cuts in 2023 vs 3 before; chance of no 2024 cut
- Taiwan Semi, Astera Labs chipmakers gain; Nutanix, Axon rebound; Microsoft holds key support
- Tesla falls from 10-week line; analysts slash growth views on demand concerns ahead of earnings