Big Tech Weighs on Stock Market after Fed Pause

📆 9/20/2023 11:59 PM
📰 WSJ

⏱ Reading Time:
14 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Bond yields hovered near at least 15-year highs, and big tech companies that powered the 2023 rally dragged down stocks.

Sept. 20, 2023 4:47 pm ETFederal Reserve Chair Jerome Powell said Wednesday that the central bank will leave its benchmark interest rate unchanged, the second time this year the Fed opted against raising rates. Photo: Chip Somodevilla/Getty Images

For months, investors snapped up tech stocks as if they didn’t believe the Federal Reserve’s promise to slow the American economy by keeping interest rates higher. Wednesday gave the latest evidence that the tech trade is cooling.Continue reading your article with

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow falls as Fed's hawkish pause puts big dent in big tech By Investing.comStock Market Today: Dow falls as Fed's hawkish pause puts big dent in big tech
Source: Investingcom - 🏆 450. / 53 Read more »