Stocks fell for the 4th day again, with technology shares slipping the most. The Nasdaq was down losing 1.7%, while the S&P 500 slipped 1.1%. Federal Reserve Chairman Jerome Powell’s remarks effect went on for the next day after the Fed approved its fourth consecutive rate hike and hawkish commentary.
The Bank of England followed the Fed in raising rates by 0.75 percentage point which is U.K. central bank’s biggest rate increase since 1989.
Bad results also impacted the fall. Peloton shares tumble after company offers weak holiday quarter outlook. PayPal Crushes Earnings Estimates and PayPal stock has dropped 10% in response.
