© Archyde.com. Traders work at the New York Stock Exchange on April 6, 2022. Photo: Brendan McDermid/Archyde.com
(Archyde.com) – Major U.S. stock indexes closed lower on Wednesday, pulled down by sharp losses for technology and other growth stocks, following the Federal Reserve’s March meeting minutes sharpened investors’ focus on the U.S. central bank’s plans to combat inflation.
According to the minutes of the Monetary Policy Committee meeting held on March 15-16, Fed officials generally agreed to reduce his holdings of $60 billion per month and his holdings of mortgage-backed securities by $35 billion.
The minutes of the meeting also indicated that the monetary policy makers of the US Central Bank are heading to make significant increases in interest rates in their upcoming meetings.
According to preliminary data, the benchmark Standard & Poor’s 500 index closed down 44.80 points, or 0.99 percent, to 4,480.32 points, while the Nasdaq Composite Index fell 316.41 points, or 2.23 percent, to 13,887.75 points.
The industrial index ended the trading session on Wall Street, down 145.47 points, or 0.42 percent, to 34495.71 points.
Technology shares and other growth companies led the declines, while utilities shares advanced.
(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)
