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Benzinga
Benzinga
Business
Henry Khederian

Why Palantir Technologies Shares Are Falling

Palantir Technologies NYSE Palantir Technologies Inc

Shares of technology and software companies, including Palantir Technologies Inc (NYSE:PLTR), are trading lower amid overall market weakness. Concerns over future Fed rate hikes have weighed on growth sectors while economic slowdown concerns have pressured market sentiment.

U.S. indices at large are also trading lower on continued weakness following comments from Federal Reserve Chair Powell suggesting a rate hike of 50 basis points is possible for May. The Fed has indicated it may move quicker on rate hikes to curb inflation.

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