US indices end on a mixed note
Share indices in the US ended on a mixed note on Wednesday, with investors shunning technology stocks for financials, which have gained traction on strong economic data and expectations of continued rate hikes by the US Federal Reserve.
The Nasdaq Composite ended over 1% lower after falling as much as 2.2% intraday, as investors booked profits in technology stocks, a sector that has contributed the most to this year’s rally.
In her testimony before the congressional Joint Economic Committee, US Fed Chair Janet Yellen repeated that she anticipates that the Fed will continue to gradually raise interest rates and trim its balance sheet, as a strengthening economy would warrant continued rate hikes.
Dow Jones closed in the green at 23940.6 up 0.44%, while S&P 500 ended marginally down in the red at 2626 and Nasdaq Composite too ended in the red down 1.2% at 6824.3.
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Via:: Stock – India Infoline