Fed Hikes Rates, Hitting Bank Stocks and Logistics Firms
The Federal Reserve's first rate hike in three years pushed the Dow down 1.21% and lifted 10-year Treasury yields to 5.02%, though AI stocks bucked the trend to finish positive. While bank and logistics sectors took a hit from the hawkish stance, tech firms like Intel and Nvidia held steady on speculative chip partnership news.
According to GN stocks/sp500, the Dow Jones Industrial Average dropped 1.21% to 51,462 while the Nasdaq remained nearly flat at 25,978. The report notes that AI-related names like Intel and Nvidia ended in the green, aided by value buying and rumors of a potential Intel-SK Hynix chip deal, even as the 10-year Treasury yield climbed to 5.02%.
Source: Yahoo FinanceThe Federal Reserve raised rates to 4.0% with a median forecast of 4.1% by year-end, triggering losses in banking and logistics sectors.
Source: WVNS
