The cooling of CPI data favors interest rate cuts. Why is the market falling? Where will this pullback go? Langjian Trading Co., Ltd.

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On Thursday, the US stock market fell, and investorslinchpinAfter the inflation report showed that consumer prices fell month-on-month for the first time since 2020, technology stocks were withdrawn one after another. The consumer price index (CPI) fell 0.1% month-on-month and rose 3.0% year-on-year in June, the smallest increase since the beginning of 2021. Despite cooling inflation data and growing expectations for the Fed to cut interest rates in September, the stock market's performance is still weak.

Technology stocks were hit hard, with Nasdaq leading the decline, with a decline of nearly 2%. Big tech companies such as Nvidia (NVDA) and Tesla (TSLA) fell by more than 5% and 8%, respectively. One reason Tesla's stock price has plummeted is the news that the launch of its robot taxi has been delayed.