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Wall Street Slides As Economic Data Fans Rate Hike Worries

Wall Street main indexes dropped on Thursday after fresh data underscored strength in the U.S. economy and aggravated concerns over the Federal Reserve’s continued policy tightening. Losses in rate-sensitive megacap growth stocks such as Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Amazon.com Inc (AMZN.O) pulled technology (.SPLRCT) and consumer discretionary shares (.SPLRCD) lower. The final estimate of third-quarter U.S. GDP revealed gross domestic product increased at a 3.2% annualized rat... Read More

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Posted: Dec 22 2022, 15:56

Author Name: vladimirribakov

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