NEW YORK, May 6 ― US stocks ended yesterday sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve's interest rate hike the previous day would not be enough to tame surging inflation.
“Investors aren't looking at fundamentals right now, and this is more of a sentiment issue,” said Megan Horneman, chief investment officer at Verdence Capital Advisors. Only 19 of the S&P 500's constituents closed in positive territory, one of which was Twitter Inc, which ended 2.6 per cent higher. The technology sector was the next biggest loser, down 4.9 per cent, with Intuit Inc among those weighing the heaviest. It slipped 8.5 per cent, to its lowest finish in a year, a day after agreeing to pay a US$141 million settlement centred on deception claims around its TurboTax product.
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:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street closes with sharp gains after Fed's interest rate hike | Malay MailNEW YORK, May 5 — US stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly a year. Stocks initially see-sawed after the announcement, then the indexes...
Source: malaymail - 🏆 1. / 86 Read more »
Wall Street closes with sharp gains after Fed's interest rate hike | Malay MailNEW YORK, May 5 — US stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly a year. Stocks initially see-sawed after the announcement, then the indexes...
Source: malaymail - 🏆 1. / 86 Read more »
Investors keep power dry ahead of Fed, crude jumps | Malay MailLONDON, May 4 — Global stocks were little changed on Wednesday as investors kept their powder dry ahead of an expected interest rate hike by the US Federal Reserve, whose accompanying statement will help determine next moves in financial markets. The MSCI global stocks index was down 0.1...
Source: malaymail - 🏆 1. / 86 Read more »