S&P 500 falls 1.1% amid AI worries and inflation
Business
The S&P 500 fell by 1.1% on Wednesday, snapping its longest run without a big dip since January 2020.
This drop came as investors started worrying about whether the AI stock boom can last and noticed prices for everyday stuff are climbing again.
The sudden shift shook up funds that had been enjoying a pretty calm market lately.
Chipmakers index down nearly 12%
Tech shares, especially chipmakers, took a hard hit, with their index down nearly 12% in just six days.
Consumer prices jumped by 0.6% last month (the highest since April), making people think the Federal Reserve might raise rates again soon.
Even with all this volatility, the S&P 500 is still close to its record high, hinting there could be opportunities for investors willing to ride out the bumps.