Nasdaq Slides 1.24% to One-Month Low as AI Stocks Sink on Rate Fears
IXIC sits 28% above its 52-week low of $20,690.249 on light trading volume (0.3× avg).
Summary
The Nasdaq Composite dropped 329.86 points, or 1.24%, to 26,363.01 Thursday morning, near a one-month low, as higher-rate fears deepened the rout in AI-linked names. Fresh data confirmed price pressures are building in the US economy, reinforcing the rate concern that started with the Fed's September hike and its signal of one more. The split tape matters: the Dow rose 0.52% to 51,888.22 while the S&P 500 fell 0.43% to 7,685.59, so this is a concentrated exit from AI and growth, not broad risk-off. This follows the pre-market report of a 1.2% futures drop on the global AI selloff — the cash session has now confirmed it.
At the time of this announcement, IXIC was trading at $26,395.15 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: Reuters.