The sell-off of technology stocks in the US market has intensified, and the expectations for interest rate cuts have worsened market panic.

On November 14, Friday during the U.S. trading session, the sell-off led by technology stocks in the U.S. stock market deepened, with major benchmark indices breaking below support levels. Concerns about the Fed possibly not lowering interest rates at the next meeting are increasingly growing. The S&P 500 index opened down 0.8% on Friday, continuing the big dump led by tech stocks, and fell below the 50-day MA. The sell-off in tech stocks also dragged down the Nasdaq 100 index, which opened down 1%. The blue-chip Dow Jones Industrial Average fell 1.1%. The Chicago Board Options Exchange Volatility Index rose above 22. Brian Jacobsen, Chief Economic Strategist at Annex Wealth, said: “The market always has things to worry about; currently, concerns about the Fed pausing in December have replaced worries about the government’s long-term shutdown. Although the government has reopened, economic data remains in a 'dark' state, which will take more time to resolve. This is also part of the reason why the stock market has been pulling back and trying to hold above its footing.” ( Jin10 )