Oct 14 (Reuters) - Hotter-than-expected inflation data sent the Nasdaq to a sharply lower close on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs.
Increased bets that the Fed will hike rates further to tame inflation dealt a sharp blow to some of the market's biggest gainers of 2026. Oracle, CoreWeave and Nebius all tumbled.
Dell and Hewlett Packard Enterprise sank after Barclays downgraded the AI server makers to "equal-weight" from "overweight".
The Philadelphia SE Semiconductor index fell for a sixth straight session, its longest losing streak since May 2025.
US consumer prices accelerated in September as the cost of gasoline surged and price pressures broadened beyond energy, data from the Labor Department's Bureau of Labor Statistics showed.