Stocks slide as Fed signals it’s not done hiking rates, Nasdaq falls 1.5%
Stocks retreated on Wednesday after the Federal Reserve said it would leave interest rates unchanged but indicated another hike on the horizon.
The S&P 500
dropped 0.94% to 4,402.20. The Nasdaq Composite
slid 1.53% to 13,469.13, weighed on by a drop of more than 2% in Microsoft
and roughly 3% declines in Nvidia
and Google-parent Alphabet
. The Dow Jones Industrial Average
lost 76.85 points, or 0.22%, to 34,440.88.
The three major indexes closed at session lows.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments