Intel Shares Fall in 1.9% Nasdaq-100 Drop on 3.8% CPI Data
Intel’s shares slumped alongside tech peers as the Nasdaq-100 tumbled 1.9% on Tuesday, pressured by 3.8% headline CPI, 2.8% core inflation and blocked oil shipments through the Strait of Hormuz. Fed funds futures now price a 51% probability of a rate hike by January 2027, amplifying pressure on chip stocks.
1. Nasdaq-100 Drops 1.9% on Economic, Geopolitical Concerns
The Nasdaq-100 index fell 1.9% on Tuesday as higher-than-expected April CPI readings—3.8% headline and 2.8% core—intensified recession fears, while blocked oil shipments through the Strait of Hormuz stoked supply-chain concerns.
2. Intel Shares Slide with Tech Peers
Intel’s shares were among the largest drags on the index, falling alongside Broadcom, Micron, Amazon and Tesla as macroeconomic headwinds outweighed sector-specific optimism.
3. Rate Hike Odds Climb to 51% by January 2027
Fed funds futures now reflect a 51% chance of a rate hike by January 2027, up from prior expectations of aggressive cuts, adding further pressure on high-growth technology names.