Wall Street slips on rate-hike jitters; Nasdaq down 0.5%

All eyes on Fed policy decision on Wednesday; traders price in small chance of 100 bps rate hike

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Traders work on the trading floor at the New York Stock Exchange in Manhattan (Photo: Reuters)

Reuters

3 min read Last Updated : Sep 19 2022 | 9:59 PM IST

Wall Street's main indexes slipped in choppy trading on Monday, extending declines for a third straight session, on worries that the Federal Reserve's aggressive interest rate hikes could tip the U.S. economy into recession.

Five of the 11 S&P 500 sectors were lower. Healthcare stocks fell 1.6%, weighed down by a 9.5% fall in shares of Moderna Inc and similar declines in those of other vaccine makers a day after President Joe Biden said in a CBS interview that "the pandemic is over".

The S&P 500 and the Nasdaq logged their worst weekly percentage drop since June on Friday as markets fully

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Nasdaq Wall Street

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