Hot Inflation Revives Wall Street’s Rate Hike Fears
Sam Goldfarb and Krystal Hur report for the Wall Street Journal that hot inflation data and hawkish remarks from Fed governor Christopher Waller revived Wall Street's fears of a rate hike, pulling investors' attention back to the Fed after weeks focused on wobbles in the artificial-intelligence trade. A linked Journal article reports that AI jitters combined with rate-hike fears for the worst day for stocks since July, as the Nasdaq edged lower.