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Wall Road ends down for third day as progress considerations weigh on tech

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Main Wall Road indexes ended decrease on Thursday, falling for a 3rd straight session as buyers reacted to the Federal Reserve’s newest aggressive transfer to rein in inflation by promoting progress shares, together with expertise firms.

The Fed lifted charges by an anticipated 75 foundation factors on Wednesday and signaled an extended trajectory for coverage charges than markets had priced in, fueling fears of additional volatility in inventory and bond buying and selling in a yr that has already seen bear markets in each asset courses.

The U.S. central financial institution’s projections for financial progress launched on Wednesday have been additionally eye-catching, with progress of simply 0.2 p.c this yr, rising to 1.2 p.c for 2023.

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Carry on studying: Wall Road ends down for third day as progress considerations weigh on tech

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