Tech Stocks Slide Across Global Markets as Hot US Inflation Data Fuels Rate Hike Fears
Yahoo Finance ·
Global equities faced a severe tech-heavy sell-off on Thursday, October 15, 2026, driven by higher-than-expected US inflation figures that amplified speculation over additional Federal Reserve rate increases. September consumer prices jumped 3.7 percent, while annual wholesale inflation surged 6.3 percent, its largest annual gain since 2022. AI leader Nvidia dropped 3.1 percent, with rival chipmakers Micron Technologies, Marvell, and AMD tumbling over five percent each. Infrastructure firm CoreWeave sank 7.3 percent. Asian markets absorbed heavy blows, as Seoul's Kospi cratered 7.6 percent—triggering a temporary trading halt—with SK hynix plunging over 11 percent and Samsung shedding more than nine percent. Tokyo's Nikkei 225 tumbled 4.9 percent. In New York, the Dow gained 0.5 percent to close at 51,884.64, whereas the S&P 500 fell 0.5 percent to 7,677.22 and the Nasdaq Composite retreated 1.4 percent to 26,320.83, reflecting ongoing pressures on high-borrowing technology sectors.
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Concerns over additional interest rate hikes by the Federal Reserve spread as the U.S. September Consumer Price Index (CPI) came in higher than expected at 3.7% and wholesale prices surged 6.3% year-over-year. Consequently, selling pressure intensified on tech stocks, centered around the Nasdaq and Philadelphia Semiconductor Index, while Asian markets such as the Kospi and Nikkei also plunged, dealing a heavy blow to global stock markets. Investors are massively exiting high-valuation growth stocks due to worries over increased financing costs resulting from prolonged high interest rates.
상승 영향
- Banks — Profitability is expected to improve through expanded loan-deposit spreads and enhanced net interest margins (NIM) as expectations for additional benchmark rate hikes by the Fed strengthen.
- Crude Oil — Upward price pressure on energy and oil-related assets persists as gasoline prices soar due to events such as the war with Iran, driving up wholesale price inflation.
하락 영향
- Semiconductors — Major AI semiconductor stocks such as NVIDIA, AMD, and SK Hynix showed a sharp decline due to concerns over rate hikes stemming from the U.S. inflation shock and heavy borrowing cost burdens.
- Growth Stocks — Valuation appeal for tech and growth stocks heavily reliant on future cash flows was severely damaged as discount rates rose following the U.S. CPI exceeding the 3.7% expectation and surging wholesale prices.
- Real Estate — Financing costs are likely to increase and investment demand in the real estate market may contract due to the possibility of additional Fed rate hikes and upward pressure on commercial interest rates.
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