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Big Tech companies sink, pushing Nasdaq composite down 2.5%

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Technology companies led stocks lower on Wall Street Thursday as investors weighed the implications of higher interest rates on the market. The declines came a day after the Federal Reserve said it's preparing to begin raising rates next year to fight inflation.

Elite grocery chain Erewhon is embarking on an aggressive expansion in Southern California. Started as a humble bulk grains outlet, its cult success is rewriting the rules of the supermarket business.

“Today it’s almost like you’re getting the reaction that everyone was expecting a day earlier,” said Ross Mayfield, investment strategist at Baird. The Dow slipped 29.79 points to 35,897.64. The Nasdaq’s losses wiped out its gains from a day before. It ended down 385.15 points to 15,180.43.

 

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