U.S. stock market = lower, technology stocks are down due to inflation indicators.

Core PCE price index accelerates growth - supporting the cautious stance of financial authorities
US real GDP in July-September expanded at a solid pace, indicating economic resilience
US stocks fell on the 27th. Large-cap high-tech stocks were sold, weighing on the overall market. US economic indicators released in the morning supported the cautious stance of financial authorities towards rate cuts.

November 28, 2024, 6:35 AM GMT+9

The three main indices of the U.S. stock market fell led by the Nasdaq and closed the trading day. Concerns about the Federal Reserve's cautious approach to a potential rate cut due to strong inflation indicators led to a sell-off in technology stocks.
The Personal Consumption Expenditures (PCE) price index for October, announced by the Department of Commerce on the 27th, rose by 2.3% year-on-year, accelerating from the 2.1% increase in the previous month. It indicated a recent acceleration in progress towards inflation control that has been stagnant for the past few months.

According to CME's Fedwatch, the market is increasingly expecting a 25 basis point cut in December, but no change in interest rates is expected at the January and March meetings next year.
Investors are continuing to assess the impact of President-elect Trump's announcement on the 25th, imposing a 25% tariff on imports from Mexico and Canada, and an additional 10% tariff on Chinese products.
On this day, computer giants Dell (DELL.N) and HP (HPQ.N) were sold off due to disappointing quarterly earnings forecasts, dragging down the information technology sector (.SPLRCT).

Selling pressure spread to large-cap stocks like Nvidia and Microsoft, leading to a decline in the Philadelphia Semiconductor Index ETF as well.