Nasdaq Drops Amid Inflation Concerns and Rate Hike Fears

• The Nasdaq closed significantly lower following the release of hot inflation data.
• Inflation data has raised concerns about potential Federal Reserve rate hikes.
• Fed's Austan Goolsbee expressed concern over discouraging inflation and warned of economic overheating.
• Markets are reacting to the inflation report, with AI stocks and small caps particularly affected.
• The rise in inflation has occurred just before the upcoming midterm elections, adding to economic uncertainty.