Tech Stocks Tumble Amid Fed Rate Cut Predictions

Major stock indexes hit a downturn on Friday, weighed down by drops in technology shares, notably Dell Technologies, while the dollar weakened against the euro.

U.S. inflation data suggesting potential Federal Reserve rate cuts in September fueled the declines. The tech sector saw significant losses, with companies like Dell, Nvidia, and Broadcom hitting lows. Market experts now predict additional rate cuts throughout October and December.

Globally, European stocks marked over two-week lows amid pressures on British banks. Meanwhile, oil prices dipped, whereas spot gold saw an upturn. Eyes are now on the upcoming U.S. jobs data release, looming over broader economic discussions.

(With inputs from agencies.)