The Nasdaq-100 fell sharply after a higher-than-expected Consumer Price Index (CPI) report for October stoked fears of further Federal Reserve interest rate hikes. The data suggests inflation remains persistent, increasing the likelihood of another rate increase in December. Compounding the macro-economic pressures, the technology sector, particularly semiconductor and AI-related stocks, faced significant headwinds. Lingering concerns about a potential slowdown in AI capital spending and a specific investigation into Nvidia's CEO have negatively impacted investor sentiment towards growth and mega-cap tech stocks.