Why Meta, Amazon, and Apple Are Falling Today
Shares of Meta Platforms (NASDAQ: META), Amazon (NASDAQ: AMZN), and Apple (NASDAQ: AAPL) were all plummeting this morning following the Federal Reserve's decision to raise the federal funds rate by 75 basis points yesterday.
The tech-heavy Nasdaq Composite fell 3.7% this morning, and the tech giants followed suit, with Meta losing 4.8%, Amazon down 4.2%, and Apple falling 3.5%.
The Fed is laser focused on bringing down inflation, which is at a 40-year high, but investors across all sectors are worried that aggressive rate hikes will slow the economy down too much and potentially even cause a recession.
Source Fool.com
