'Market should be pretty upset': Tech stocks brace for more bleeding as Fed ratchets up rates

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Higher rate target a clear escalation in Fed\u0027s effort to stamp out inflation and creates high likelihood of recession, strategist says

Amazon.com Inc. and and Meta Platforms Inc. dropped more than two per cent on Wednesday in a volatile session that also saw the Nasdaq 100 Stock Index falling to its lowest level since July 1 after a brief rally. The index closed 1.8 per cent lower, while the S&P 500 fell 1.7 per cent. Amazon traded 0.7 per cent lower post-market, while Apple slid 0.4 per cent.

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The “market” isn’t a person. People don’t get upset when corps make a little less profit.

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