Wall Street slumps as most stocks fall; tech leads decliners

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 17, 2020. Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans.

The Dow Jones Industrial Average fell 313 points, or 1.1%, to 27,719, as of 9:42 a.m. Eastern time, and the Nasdaq composite was down 1.9%. The selling was widespread, and roughly 95% of the stocks in the S&P 500 were lower.Low interest rates are usually a boon for investors, sending stocks soaring, and analysts gave varying possible reasons for the market’s weakness.

Another possibility for the weakness is the diminishing odds that Congress will deliver more aid for the economy anytime soon after benefits for unemployed workers and other stimulus expired recently. Investors say such aid is crucial for the recovery, and Powell talked about the importance of it in a press conference Wednesday.

I'm all for Zuckerberg losing his azz!

'the Federal Reserve said it will keep interest rates at nearly zero for years to help nurse the wheezing economy.' Gosh, according to trump's ads, everything's great. 🤣🤡😷TrumpVirus

So much for big orange’s “bigly” stock market.

The new Netflix doc has people dumping Facebook.

How about selling off because Covad-19 will haunt us into 2021?

South Africa South Africa Latest News, South Africa South Africa Headlines

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

What to watch today: Wall Street set to drop with tech stocks under continued pressureTechnology stocks were set to resume their recent sell-off with the so-called FANG block all dipping at least 1% in today's premarket. BS. Tech is where growth and profits are at. Someone’s playing retail investors. CNB has become a forum for pompous CEO's & fund managers to spew trendy cliche's while bragging about their 'accomplishments' ad nauseum. Only way to stop hearing 'deplatform' to swtich to Spotify or Varney. Besides Susan Li doesn't have Sarah's whiny valley girl affect.
Source: CNBC - 🏆 12. / 72 Read more »

As Main Street crisis worsens, Facebook launches new small business platformFacebook has been focused on small business amid large brand boycotts of the social media and advertising giant, and it has a new platform to help Main Street at a time of crisis. Fed/Powell: 'If we do not see another 3T stimulus package....considerable downside risks leading to evictions, foreclosures & badly scar our economy.' 🌷 Quickly unwinding & retracing 1/2 way to March lows before 9/29 presidential debate... = Trump Kryptonite Facebook and CNBC are helping to prop up budding fascist leaders
Source: CNBC - 🏆 12. / 72 Read more »