Nasdaq 100 Dips To September Lows, US Yields Rise To July 2006 Peak As Fed Delivers Hawkish Hold
Portfolio Pulse from Piero Cingari
The Nasdaq 100 index fell to late August lows following the Federal Reserve's decision to maintain rates at 5.25%-5.5% and hint at a possible rate hike by the end of 2023. The Invesco QQQ Trust, the largest ETF tracking the Nasdaq 100, dropped 1.5%. Other ETFs such as SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF, and Dow Jones Industrial Average ETF also experienced declines. Among S&P 500 mega caps, Intel Corp., Alphabet Inc., Nvidia Corp., Netflix Inc., and Microsoft Corp. were the worst performers.
September 20, 2023 | 8:25 pm
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NEGATIVE IMPACT
Intel Corp. was one of the worst performers among S&P 500 mega caps, with its stock down by 4.6%.
The Federal Reserve's decision has led to a decline in the stock market, with Intel Corp. being one of the worst affected. This has resulted in a significant drop in the company's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ Trust, the largest ETF tracking the Nasdaq 100, dropped 1.5% following the Federal Reserve's decision.
The Federal Reserve's decision to maintain rates and hint at a possible rate hike has led to a decline in the Nasdaq 100 index, which the Invesco QQQ Trust tracks. This has resulted in a drop in the ETF's value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100