• Safi Bello

U.S. Tech Selloff Resumes, Dollar Gains After Fed: Markets Wrap

Bloomberg ------ The selloff in U.S. technology shares resumed, sending the Nasdaq indexes lower by more than 1 percent. The dollar advanced with Treasury yields as traders digested the more hawkish tone struck by the Federal Reserve. Mega-cap tech shares from Alphabet Inc. to Facebook Inc. fell more than 2 percent, as American equities joined a broad-based market selloff. Every sector of the Stoxx Europe 600 Index retreated. Bloomberg’s commodity index fell to the lowest in more than a year. The greenback strengthened and 10-year Treasury yields climbed as the Fed suggested the strength of the labor market will ultimately prevail over weakness in inflation. The British pound fluctuated after a Bank of England policy decision. To learn more click on the picture below to read the article.

U.S. Tech Selloff Resumes, Dollar Gains After Fed: Markets Wrap - Read More from Bloomberg

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