AI infrastructure stocks fall amid inflationary pressure; Nasdaq drops 2%
AVGO Broadcom Inc
$346.25 -3.10%
View chart & analysis → - 1The headline Consumer Price Index (CPI) rose 3.7% year-over-year.
- 2The Nasdaq showed a 2% decline during late afternoon trading.
- 3The iShares Semiconductor ETF (SOXX) fell 4% on Wednesday.
So what's the key point?
The Nasdaq index fell 2% because inflation rose more than expected. Prices for artificial intelligence-related semiconductor products also went down, which is not good news for investors.
Source CNBC · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.