Bitcoin miners plunge up to 13% in Wall Street’s worst selloff since July
Summary
Hotter-than-expected US inflation triggered a broad selloff in technology and AI infrastructure stocks. The S&P 500 fell 1.1% and the Nasdaq dropped 1.9%, while 21 of 23 stocks in an AI infrastructure index declined. Bitcoin miners with AI data-center exposure also fell sharply: TeraWulf lost 12.64%, while Core Scientific, Cipher Mining and IREN each dropped more than 12%. September consumer prices rose 3.7% year over year, above the 3.6% forecast and the Federal Reserve’s 2% target. Markets briefly priced in more than a 50% chance of an October rate hike, but San Francisco Fed President Mary Daly said there was no urgency to decide this month.
