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Why Snowflake Fell Hard Today

Why Snowflake Fell Hard Today

Shares of enterprise software star Snowflake (NYSE: SNOW) fell today, down 4.1% as of the end of trading -- much more than the broader markets. Snowflake is perhaps one of the best-performing businesses in the enterprise software space. The Federal Reserve held its September meeting last week, whereby Fed governors gave their projections for interest rates hikes in the near and medium term.