(Reuters) – The New York Stock Exchange ended lower on Thursday as technology and growth stocks suffered from a rate hike decided by the US Federal Reserve on Wednesday.
The Dow Jones index cd -0.35%, or 107.1 points, 30076.68 points.
The broader S&P-500 lost 31.94 points, or -0.84%, to 3757.99 points.
The Nasdaq Composite fell by its side from 153.39 points (-1.37%) to 11,066.81 points.
The U.S. Federal Reserve on Wednesday announced a third consecutive three-quarters percentage point interest rate hike and hinted that it should decide on a fourth by the end of the year to bring inflation down. .
The markets were already moving lower in recent weeks due in particular to the warnings published by several companies, such as FedEx and Ford Motor, on their results.
Of the eleven major sectors of the S&P-500, the consumer discretionary and financials sectors suffered the largest declines.
The rate hike decided by the Fed is particularly weighing on the technology sector.
“If inflation continues to move the way it is, and Jerome Powell sticks to his guns, I think we’re entering a recession and we’re seeing a significant drop in earnings forecasts,” said Mike Mullaney, chief operating officer. studies on global markets at Boston Partners.
At values, Amazon, Tesla and Nvidia ended down.
Major airlines, such as JetBlue Airways, United Airlines and American Airlines, also ended in the red.
(With contributions from Sruthi Shankar, Medha Singh, Devik Jain and Ankika Biswas; French version Camille Raynaud)
by David French