From Nasdaq:

Wall Street’s main indexes dropped to one-week lows due to higher U.S. Treasury yields and inflation exceeding expectations in January. Rate-sensitive megacap stocks like Microsoft and Amazon lost 0.7%-1.6%. Chip stocks, real estate, and consumer discretionary also declined. Trader expectations for interest rate cuts in May dropped to 38.7% after the inflation data.

Market sentiment is taking a hit with a fear gauge, the Cboe volatility index, reaching an over two-week high. Wall Street has been on a 14 out of 15 week rally. Activist investor Carl Icahn pushing JetBlue Airways stock 15% higher. Top losing stocks include Arista Networks dropping 4.3%, and Marriott International losing 5.8% due to a bleak forecast. Tripadvisor gained 14.3% as the online travel agency assessed potential deals.

S&P Index 15 new 52-week highs and six new lows, while Nasdaq saw 27 new highs and 68 new lows. For more information, visit (https://reut.rs/3IirbSt).



Read more: Wall St falls as hot inflation data dampens early rate-cut hopes