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Why Tech Stocks Closed Mix

Video Credit: Wochit - Duration: 00:38s - Published
Why Tech Stocks Closed Mix

Why Tech Stocks Closed Mix

On Wednesday, US stocks closed mixed.

Business Insider reports that sliding tech giants overshadowed the Federal Reserve's pledge to keep monetary support intact for the foreseeable future.

Central bank policymakers signaled near-zero interest rates would last through 2023 to help the US economic recovery.

The tech industry dragged major indexes into intraday losses, with mega-caps including Apple and Facebook leading the slump.

Retail sales grew by just 0.6% in August, lower than expected.

Oil prices increased on reports of US stockpiles falling by 9.5 million barrels last week.

West Texas Intermediate crude jumped as much as 5.4%, to $40.33 per barrel.


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