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Benzinga

Business

Henry Khederian

Why FuelCell Energy Shares Are Diving

Fuelcell Energy FuelCell Energy Inc Nasdaq

FuelCell Energy Inc (NASDAQ:FCEL) shares are trading lower amid overall market weakness as stocks continue to sell off following last week’s Fed rate hike decision. A gain in treasury yields has weighed on growth stocks, which has pressured tech and clean energy names.

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.

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