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      U.S. Tech Stocks Decline as Earnings Reports and Economic Data Take Center Stage

      U.S. technology stocks faced a notable decline last week, with the Nasdaq index falling over 4%. This downturn comes as the market grapples with stronger-than-expected inflation data, prompting a reassessment of the prevailing economic narrative. The Federal Reserve has entered a quiet period ahead of its upcoming Federal Open Market Committee (FOMC) meeting scheduled for October 28, during which officials will refrain from public statements.

      This week, investors are focusing on the earnings reports from major tech companies, including Meta and Tesla, as well as data from the semiconductor and storage sectors. The Nvidia GTC conference in Berlin, which runs from October 17 to 22, will feature a keynote address from CEO Jensen Huang. Additionally, the U.S. will release key economic indicators, including API and EIA crude oil inventory data, initial jobless claims, and preliminary values for the S&P Global Manufacturing and Services PMIs.

      On the geopolitical front, former U.S. President Donald Trump has suspended full enforcement of sanctions and tariffs against Russia, allowing for a 60-day assessment period. Meanwhile, ongoing disruptions in shipping through the Strait of Hormuz and rising tensions in the Middle East are contributing to increased oil price premiums. This week will also see Japan release its September Consumer Price Index (CPI) and preliminary PMI values, providing further insights into economic conditions ahead of the Bank of Japan's decision on October 30.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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