NEW YORK—Major U.S. stock indexes closed mostly lower on Monday, led by a more than 2 percent drop in Nasdaq, as investors sold tech and big growth names ahead of this week’s Federal Reserve meeting and an expected hike in interest rates. The Dow ended flat, with financial and healthcare shares giving the index some support. Developments in the Ukraine-Russia conflict added to investor caution as Russian and Ukrainian delegations held a fourth round of talks on Monday, but no progress was announced, while Russian forces allowed a first convoy of cars to escape Ukraine’s besieged port of Mariupol. Apple Inc. shares fell 2.7 percent and weighed the most on the S&P 500 and Nasdaq after its supplier Hon Hai Precision Industry Co. Ltd., known as Foxconn, suspended operations in China’s Shenzhen amid rising COVID-19 cases. The Fed is expected to raise interest rates for the first time in three …
Tech, Growth Stocks Lead Wall Street to Lower Close as Investors Focus on Interest Rates
March 14, 2022
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