Why Tech Stocks Closed Mix Unlisted Video
4 years ago
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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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