US stock indices closed lower on Wednesday, with the Nasdaq index suffering sharp losses, as fears mounted that the US Federal Reserve (the central bank) would raise interest rates following data showing US inflation rose more than expected.
For its part, Reuters reported that fears of rising borrowing costs pressured technology and artificial intelligence company stocks, particularly Oracle, Coroviv, and Nebius, while shares of Dell and Hewlett Packard Enterprise fell after Barclays downgraded their ratings.
The agency added that the Philadelphia Semiconductor Index recorded losses for the sixth consecutive session, marking its longest decline streak since May 2025.
Data from the US Bureau of Labor Statistics showed that inflation accelerated last September, with gasoline prices rising and price pressures spreading to sectors beyond energy, reinforcing expectations that the Federal Reserve might raise interest rates again.
At the close of trading, the Nasdaq Composite Index fell 502.90 points, or 1.85 percent, closing at 26,701.48 points, the S&P 500 Index dropped 83.96 points, or 1.08 percent, to 7,721.49 points, while the Dow Jones Industrial Average fell 45.23 points, or 0.09 percent, to reach 51,624.78 points.
Source: Syrian Arab News Agency (SANA)
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