Wall Street ends down for third day as growth concerns weigh on tech

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Major Wall Street indexes ended lower on Thursday, falling for a third straight session as investors reacted to the Federal Reserve’s latest aggressive move to rein in inflation by selling growth stocks, including technology companies.

The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fueling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes.

The U.S. central bank’s projections for economic growth released on Wednesday were also eye-catching, with growth of just 0.2 percent this year, rising to 1.2 percent for 2023.

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Keep on reading: Wall Street ends down for third day as growth concerns weigh on tech

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