Posted 3/11/2024, 10:59:23 AM
Tech Stocks Stumble as Broader Market Wavers Ahead of Key Inflation Data
- Nvidia stock dropped last week despite no negative news, raising concern its recent rally may be losing steam
- Tesla shares plummeted nearly 14% last week along with other big tech names like Apple, Amazon, Alphabet, and Microsoft
- Utilities outperformed last week as tech and consumer cyclicals led the market lower
- Inflation data this week could confirm or deny high January readings that dampened rate cut hopes
- February CPI print on Tuesday is last before March Fed statement and could impact rate forecast