• US stocks close mixed as tech slump overshadows Fed's plans for long-term support

    8 days ago - By Business Insider

    Brendan McDermid/Reuters
    US stocks closed mixed on Wednesday as 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 buttress the US economic recovery. The tech sector 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, missing the average economist estimate of 1% and marking a slowdown from July's 1.2% growth. Oil prices increased on...
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