tech stock money rotates to defensives

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112026-11US October CPI Tops Forecasts; Tech Stocks Slip as Money Rotates to DefensivesUS October CPI rose 0.4% month on month and core CPI climbed 0.3%, both above market expectations and marking the second straight month of upside inflation surprises. Major US stock indexes extended losses after the release, with the Nasdaq the weakest performer. Tech momentum faded as money flowed into defensive sectors such as utilities and consumer staples, risk appetite fell, and expectations for the pace of rate cuts faced revision.CNBC Technology、kaopunews