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Wall Street slides as rate-cut bets evaporate
U.S. equities decline sharply as markets price out December rate-cut hopes and tech fears intensify.
U.S. stocks tumbled after a fresh tech sell-off and fading expectations for a Federal Reserve rate cut. Major indices, led by the Nasdaq, dropped sharply on concerns that central bankers may hold off on easing.
Semiconductor names were hit hard following warnings of weak demand from China. Rising volatility and hawkish Fed commentary deepened investor anxiety, putting pressure on growth stocks and risk assets.