Wall St. Tumbles Amid AI Sell-off & Fed Jitters 📉

• Wall Street posted its steepest daily percentage decline in over a month, driven by a broad sell-off and investors scaling back expectations for a Federal Reserve (Fed) rate cut in December. • Index Performance: • S&P 500 fell 1.66% to 6,737.49. • Nasdaq dropped 2.29% to 22,870.36. • Dow Jones declined 1.65% to 47,457.22. • Key Drivers/Sectors: • Losses were led by Consumer Discretionary (-2.73%) and Information Technology (-2.37%). • AI heavyweights like Nvidia (-3.6%), Tesla (-6.6%), and Broadcom (-4.3%) saw steep declines amid fears over high valuations. • Monetary Policy Outlook: Financial market odds for a 25-basis-point Fed rate cut in December dropped significantly to ~47% (down from 70% last week), as Fed officials express continued caution over inflation and labor market stability.