AI stocks and Bitcoin miners slide after US inflation beats forecasts

US stock markets experienced their steepest decline since July on Wednesday as inflation data surpassed expectations, hitting technology and artificial intelligence infrastructure companies particularly hard. Bitcoin mining firms also faced significant drops alongside the broader tech sector. The S&P 500 index fell 1.1%, recording its largest single-day loss since July 29. The Nasdaq Composite lost 1.9%, marking its most significant decrease since July 23. Meanwhile, the Dow Jones Industrial Average slipped 0.1% over the same period. Among tech firms, data center operator CoreWeave suffered a 16% loss, while Nebius, an AI infrastructure provider, dropped by 11%.

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