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Wall Street Mixed as Global CBs Join Tightening Wave

EQUITIES
  • Following the resolutely positive finish to the Wall Street session Wednesday, Wall Street was more mixed into the Thursday close as global central banks joined the wave of tightening. Both the Norges Bank and the Bank of England raised interest rates, weighing slightly on stocks. The e-mini S&P faded off a post-Fed high of 4752.50 to trade either side of the 4700 level, but the NASDAQ Composite was hardest hit, dropping close to 1.5%.
  • The tech sector was a laggard, with semiconductors suffering alongside software names. Apple was also a notable underperformer, reversing close to the entirety of the post-Fed gains.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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