Gloomy replay on Wall Street
Published: 1 hour ago
For the third day in a row, the New York Stock Exchange closed in the red. Federal Reserve Chairman Jerome Powell’s statement, in which he highlighted that several interest rate hikes are expected, lowered the mood on Wall Street.
At the close, the interest-sensitive technology sector in particular had taken a beating and Nasdaq’s composite index retreated 1.2 percent.
Among the biggest losers was mainly the electronics company Intel, which plummeted 6.0 percent, while the electric car manufacturer Tesla fell just over 5 percent on a lowered recommendation.
The other two indexes on the New York Stock Exchange reported weaker declines. The Dow Jones Industrial Average fell 0.3 percent, while the broad S&P 500 retreated 0.5 percent.
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