AI Stocks Lead 2% Nasdaq Plunge as CoreWeave Debt Yields Hit 15%
IXIC sits 29% above its 52-week low of $20,690.249.
Summary
The Nasdaq Composite and Nasdaq 100 each fell 2% on Wednesday as AI and semiconductor stocks sold off sharply on rising debt concerns and hotter-than-expected September CPI. CoreWeave plunged 15% (or 9% per the article's table) as its 2032 bond yield surged to 14.8%, with credit-default swaps pricing a >50% default probability within five years; Oracle fell 9% (or 15.5% per table) on similar debt worries. Barclays downgraded HPE, Dell, and NetApp, citing no meaningful AI inflection in enterprise spending, sending Dell down 11% and HPE down 8%. The S&P 500 broke a 53-session streak without a 1% daily loss, and the Russell 2000 entered a technical correction. Bank of America fell 5% after a $1.2 billion penalty, while Morgan Stanley dropped 3% despite beating trading revenue estimates. This follows the prior report of a 1.9% Nasdaq slide, but adds specific stock moves, bond yield data, analyst downgrades, and bank earnings. All eyes turn to Thursday's wholesale inflation print, TSMC results, jobless claims, and retail sales.
At the time of this announcement, IXIC was trading at $26,692.87 on NASDAQ in the Technology sector. The 52-week trading range was $20,690.25 to $27,722.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: CNBC TV18.