Shares of several companies in the broader tech sector, including Amazon.com, Inc. (NASDAQ:AMZN), are trading lower amid market weakness as traders continue to digest Wednesday’s Fed rate hike announcement. A gain in treasury yields has weighed on technology and growth stocks.
The Federal Reserve last Wednesday raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years.
