On Thursday, the Nasdaq Composite fell for a fourth day as worries about the Federal Reserve’s interest rate policy path and whether policymakers will implement another boost this year resurfaced.
The S&P 500 declined 0.32% to end the day at 4,451.14, while the tech-heavy Nasdaq lost 0.89% of its value to close at 13,748.83. In order to reach its final value of 34,500.73, the Dow Jones Industrial Average gained 57.54 points, or 0.17%.
According to Chris Zaccarelli, chief investment officer of Independent Advisor Alliance, “many were expecting the Fed would be on hold for the rest of the year, but it’s probable that we got one or two more rate hikes to come.” According to all other factors being equal, the stock market, which was anticipating the Fed to possibly be finished with the year.
Source (CNBC)
