U.S. Markets close in 5 hrs 49 mins
  • S&P 500

    3,645.24
    +4.77 (+0.13%)
     
  • Dow 30

    29,195.35
    -30.26 (-0.10%)
     
  • Nasdaq

    10,757.13
    +19.63 (+0.18%)
     
  • Russell 2000

    1,687.47
    +12.54 (+0.75%)
     
  • Crude Oil

    80.66
    -0.57 (-0.70%)
     
  • Gold

    1,678.70
    +10.10 (+0.61%)
     
  • Silver

    19.16
    +0.45 (+2.39%)
     
  • EUR/USD

    0.9771
    -0.0048 (-0.4886%)
     
  • 10-Yr Bond

    3.7020
    -0.0450 (-1.20%)
     
  • Vix

    30.99
    -0.85 (-2.67%)
     
  • GBP/USD

    1.1115
    -0.0008 (-0.0722%)
     
  • USD/JPY

    144.4750
    +0.0320 (+0.0222%)
     
  • BTC-USD

    19,531.22
    +550.90 (+2.90%)
     
  • CMC Crypto 200

    445.84
    +2.41 (+0.54%)
     
  • FTSE 100

    6,877.53
    -4.06 (-0.06%)
     
  • Nikkei 225

    25,937.21
    -484.84 (-1.83%)
     

Why Alibaba, Amazon, and Meta Platforms Stocks Tumbled on Wednesday

·4 min read
Why Alibaba, Amazon, and Meta Platforms Stocks Tumbled on Wednesday

Unfortunately, the latest rate hike came with a bit of collateral damage. With that as a backdrop, shares of Alibaba (NYSE: BABA) slipped as much as 5%, Amazon (NASDAQ: AMZN) stock was down as much as 3.1%, and Meta Platforms (NASDAQ: META) slipped as much as 2.8%. There was very little in the way of company-specific news behind the sell-off, but fears regarding the Fed's continued rate hikes and lower growth forecasts succeeded in dragging these technology stocks even lower.