The stock market moved sharply lower on Thursday, reversing most of its gains from the previous session when the Federal Reserve raised interest rates by a half-percentage point, as volatility remains elevated and investors continue to worry about risks to economic growth.... [+]Stocks plunged: The Dow Jones Industrial Average was down 2.6%, nearly 900 points, while the S&P 500 lost roughly 3% and the tech-heavy Nasdaq Composite over 4%.
Several e-commerce companies saw shares fall after disappointing first quarter earnings on Thursday, weighing on market sentiment: eBay lost nearly 9%, Etsy 14% and Shopify 17%. Shares of Big Tech companies were also moving sharply lower, with Amazon and Facebook-parent Meta both falling over 6%, while Microsoft lost over 4%.
Government bond yields were on the rise amid the heightened uncertainty, with the 10-year Treasury note once again trading above 3%—its highest level since 2018.
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:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia stocks set for higher start as investors look ahead to Fed rate decisionThe U.S. Federal Reserve is expected to raise interest rates on Wednesday for the second time since 2018.
Source: CNBC - 🏆 12. / 72 Read more »
Stocks briefly extend rise, Treasury yields pull back after Fed statementU.S. stocks popped to session highs then pulled back to remain slightly higher Wednesday in a relatively subdued reaction after the Federal Reserve, as... $BBBY IS THE ONLY PLAY BUYBUYBABY GETS BOUGHT OUT THIS MONTH buybuyBABY BedBathBeyond the pandemic has caused a BabyBoom the rise of babies ryancohen selling off BuyBuyBaby will help $BBBY debt, maybe pay dividends in the future HODL $GME MayThe4thBeWithYou CincodeMayo
Source: MarketWatch - 🏆 3. / 97 Read more »
Australia Stocks Set for Muted Start After U.S. Fed Hikes Interest Rate as ExpectedThe U.S. Federal Reserve on Wednesday increased its benchmark interest rate by half a percentage point, in line with market expectations.
Source: NBCDFW - 🏆 288. / 63 Read more »
Stocks soar to biggest gain in 2 years after Fed downplays higher rate increaseThe Dow Jones Industrial Average jumped 932 points, or 2.8%, to close at 34,061. The S&P 500 gained almost 3%, while the tech-heavy Nasdaq jumped 3.2%. The S&P saw its best daily performance since May 2020, according to FactSet. At least none of the stocks caught COVID-19. Am I right? Election2022 Although I don’t know exactly how to describe my feelings about $ERBB but it’s incredible and I’m loving how it has grown ever since its launch, so I suggest you go and check it. P.s. it is listed under the amazing American Green!
Source: CBSNews - 🏆 87. / 68 Read more »
Asian stocks rise after Fed chair downplays bigger rate hikeAsian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades
Source: WOKVNews - 🏆 247. / 63 Read more »