The US stock market is in red today as investors react to higher-than-expected wholesale inflation of 2.9%, which lowered expectations of near-term Federal Reserve rate cuts. Technology stocks declined due to concerns over AI disruption and spending levels. Rising oil prices, linked to tensions between the United States and Iran, also added pressure. Major indexes including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite moved lower as investors reduced risk exposure.