Nasdaq drops 0.7% as sticky inflation and Nvidia scandal rattle markets
Wall Street stock indices fell on November 10, 2026, as October inflation data slowed less than expected, raising expectations of aggressive Federal Reserve interest rate hikes. Institutional investors and technology sector traders pulled back from major equities following hawkish comments from central bank policy makers and a fresh sell-off in semiconductor giant Nvidia.
Hawkish Fed signals and semiconductor scandals pressure major indices
The tech-focused Nasdaq lost 0.7 percent during the session, dragged lower as Nvidia shares fell a further 5.5 percent. The AI chip maker became the subject of an FBI investigation involving Chief Executive Officer Jensen Huang, sending its valuation temporarily below Microsoft during trading before it reclaimed its position as the world’s second most valuable publicly traded company behind Apple. The decline followed a 4.3 percent drop in Nvidia shares on November 9.
Broader corporate developments added to market caution. Artificial intelligence developer Anthropic disclosed in a securities filing that it plans to raise up to $64 billion in an upcoming initial public offering, scaling back from an earlier $100 billion estimate. The filing revealed third-quarter revenue reached $17 billion, up from $1.4 billion during the same period a year earlier. In commodity markets, Brent crude oil dropped 1.2 percent to settle at $91.49 a barrel.
Federal Reserve Governor Christopher Waller publicly called for a swift response to persistent inflation, stating he could support a 50-basis-point interest rate increase at the December policy meeting. Dallas Fed President Lorie Logan similarly signaled strong support for decisive monetary tightening to curb accelerating price pressures.
