11/21/2022, 10:00 PM (Source: TeleTrader)
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Nasdaq 100 tumbles 1% amid tech sell-off

Major stock markets on Wall Street suffered losses at the start of the week as investors looked for the Federal Reserve's most likely path forward in raising interest rates in response to record inflation readings. This trading week will end early due to the Thanksgiving holiday.

While Fed officials widely argued the United States economy wouldn't go through a major recession, they confirmed the central bank would need to hike rates further until the inflation data confirms consumer price growth is definitely on its way to reaching the 2% target range.

In business news, Zoom and Dell were set to publish their third-quarter earnings results after the closing bell. Meanwhile, Disney's shares pushed the Dow Jones and S&P 500 after news of Bob Iger retaking the CEO position.

The Nasdaq 100 tumbled 1.06% or 123 points at the close. The Dow Jones slipped 0.13%, while the S&P 500 lost 0.39%. The euro declined 0.79% against the dollar to hover around August levels by selling for $1.02440.

Baha Breaking News (BBN) / ND