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Why Tech Stocks Closed Mix

Video Credit: Wochit News
Published on September 16, 2020 - Duration: 00:38s

Why Tech Stocks Closed Mix

On Wednesday, US stocks closed mixed.

Business Insider reports that sliding tech giants overshadowed the Federal Reserve's pledge to keep monetary support intact for the foreseeable future.

Central bank policymakers signaled near-zero interest rates would last through 2023 to help the US economic recovery.

The tech industry dragged major indexes into intraday losses, with mega-caps including Apple and Facebook leading the slump.

Retail sales grew by just 0.6% in August, lower than expected.

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