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Wall Street dips after Fed rate hike; tech slumps again

The Nasdaq cut its loss in more than half in a late rebound, having earlier fallen 1 percent

Reuters  |  NEW YORK 

A slide in technology stocks pulled down the Nasdaq Composite on Wednesday and the S&P 500 ended slightly lower, as investors worried about the pace of economic growth after weaker-than-expected inflation numbers and an interest rate hike from the Federal Reserve. The Nasdaq cut its loss in more than half in a late rebound, having earlier fallen 1 percent, while financials buoyed the Dow industrials. The U.S. central bank cited continued U.S. economic growth and job market strength, proceeding with its first tightening cycle in more than a decade. But some investors worried ...

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First Published: Thu, June 15 2017. 04:36 IST
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