Stock Market Today: Dow Rises, S&P 500 and Nasdaq Retreat on Hot Inflation Print, Tech Sell-Off - Yahoo Finance

💡 The US stock market posted mixed results as the Dow Jones Industrial Average rose, while the S&P 500 and Nasdaq Composite retreated.

The US stock market posted mixed results on Wednesday, with the Dow Jones Industrial Average rising, while the S&P 500 and Nasdaq Composite retreated. The mixed performance came as investors digested a hotter-than-expected inflation print and a tech sell-off.

Inflation Fears Weigh on Markets

The Consumer Price Index (CPI) rose 6.6% year-over-year in March, exceeding the market's expectations of a 6.4% increase. The hotter-than-expected inflation print sparked concerns that the Federal Reserve may need to keep interest rates higher for longer, which weighed on tech stocks.

Dow Rises Amid Sector Rotation

The Dow Jones Industrial Average rose 0.4% to 33,823.44, led by gains in the consumer staples and materials sectors. However, the S&P 500 fell 0.6% to 4,134.35, while the Nasdaq Composite dropped 1.2% to 13,235.19. Tech stocks led the declines, with $NVDA falling 4.5% and $AAPL falling 2.5%.

Tech Sell-Off Continues

The sell-off in tech stocks continued on Wednesday, with the S&P 500 Information Technology sector falling 1.8%. The sector has now fallen for four consecutive days, with $NVDA and $AAPL leading the declines. The sell-off in tech stocks comes as investors grow concerned about the impact of higher interest rates on the sector.

What It Means for Investors