Cheraw Chronicle

Complete News World

Netflix and Tesla continue to lose in the slightly lower Nasdaq |  Money

Netflix and Tesla continue to lose in the slightly lower Nasdaq | Money

The Fed’s canopy minutes showed that interest rates may be raised earlier in the year if inflation remains high and the economy continues to grow. The Fed also wants to sell government bonds and other loans, which were previously purchased to support the economy, to ease the balance sheet.

Tech companies came under pressure on Wall Street, like yesterday, as investments in these high-growth companies became less attractive as interest rates rose. Tech companies, in particular, whose value has risen sharply in recent years, are moving aggressively on signs of rising interest rates. It’s relatively expensive, so if any returns can be made in the bond markets, investors will flock there.

Netflix lost 2.5 percent on Thursday and Tesla lost 2.5 percent. Also Apple, that at the beginning of this week Worth more than $3 trillion It was 1.7 percent.

Not all of the big tech companies have gone down. For example, Meta, the parent company of Facebook, won roughly 2.6 percent. Meanwhile, US banks benefited from higher interest rates, and they also ended up profiting. Bank of America, Citigroup and Wells Fargo rose 3.3 percent.

The Nasdaq Technology Exchange closed 0.1 percent lower overall at 15,080.87 points. The Dow Jones Industrial Average lost 0.5 percent to 36,236.47 points. The Standard & Poor’s 500 Index fell 0.1 percent to 4,696.05 points.

See also  GitHub will require two-step verification for all developers by the end of 2023 - IT Pro - News