The titles growth of companies with skyrocketing market capitalizations pushed US equity indices down at Thursday’s open, one day after a rally led by the Federal Reserve’s less aggressive tone.
The Dow Jones Industrial Average fell 206.89 points, or 0.61%, to 33854.17 points.
The Standard & Poor’s 500 index opened in down 29.74 points, or 0.69%, to 4270.43 points, while the Nasdaq Composite Index fell 177.33 points, or 1.37%, to 12787.52 points, citing Reuters.
US stocks closed in Strong rally Wednesday after the Federal Reserve announced a widely expected interest rate hike, the highest since 2000.
Stocks fluctuated after the announcement, then major indices stabilized and rose more than 2.5% on the heels of a press conference held by US Central Bank President Jerome Powell.
Yesterday the Federal Reserve raised the benchmark interest rate by half a percentage point.
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