U.S. equities extended losses on July 14, according to market data from Bit.com, with all three major stock indexes trading lower and the Nasdaq falling more than 1.3% at one point. Tech names led the decline. SanDisk dropped 12.28%, while Western Digital and Seagate Technology each fell more than 6%. Micron was down 5.53%, SK Hynix lost 7.6%, Intel fell more than 6%, and SpaceX slipped 4.36%.
On the policy side, Trump said that, effective immediately, the blockade on Iran would be restored and a 20% fee would be charged on cargo transportation. Later, Federal Reserve Governor Christopher Waller said the Fed would need to consider raising rates in the near term if this week’s core inflation data remains elevated again. Waller added that the recent rise in core inflation was a concern, citing tariffs, higher energy prices, and demand tied to artificial intelligence investment as the main drivers behind inflation.
U.S. stocks stayed under pressure on July 14, according to market data from Bit.com, with all three major indexes in the red. The Nasdaq was down more than 1.3% at one point.
Technology shares led the sell-off. SanDisk fell 12.28%. Western Digital and Seagate Technology were each down more than 6%, while Micron lost 5.53%, SK Hynix dropped 7.6%, Intel fell more than 6%, and SpaceX declined 4.36%.
On the policy front, Trump said the blockade on Iran would be restored effective immediately, with a 20% fee imposed on cargo transportation.
Later, Federal Reserve Governor Christopher Waller said the Fed would need to consider a near-term rate hike if core inflation data due this week comes in elevated again. Waller said the recent increase in core inflation was worrying, pointing to tariffs, rising energy prices, and demand from artificial intelligence investment as the main factors pushing inflation higher.
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