Wall Street stocks closed mostly lower on Friday, dragged down by big tech stocks as investors digested the Federal Reserve’s decision to end pandemic-era stimulus faster, Reuters reported.
finished all The three major stock indices are down During the week after the Federal Reserve indicated Wednesday it will raise interest rates by a quarter of a percentage point by the end of 2022 to combat rising inflation.
Shares of Apple, Microsoft and Alphabet fell for most of the session, weighing on the Nasdaq and S&P 500 indexes.
According to unofficial data, the benchmark Standard & Poor’s 500 index fell 48.75 points, or 1.04%, to 4,619.92 points, while the Nasdaq Composite Index fell 14.80 points, or 0.07%, to 15165.63.
The Dow Jones Industrial Average closed down 532.14 points, or 1.48%, to 35,365.50 points.