The potential for an interest rate hike in December and some disappointing tech earnings reports yesterday hit Wall Street and US stocks ended slightly lower.
The Dow Jones industrial average fell 23.72 points, or 0.13 per cent, to 17,755.8, the S&P 500 lost 0.94 points, or 0.04 per cent, to 2,089.41 and the Nasdaq Composite dropped 21.42 points, or 0.42 per cent, to 5,074.27.
The Federal Reserve, which kept rates unchanged at its policy meeting that ended Wednesday, downplayed concerns about global growth and indicated confidence in the US job market’s recovery. Stocks had jumped on Wednesday following the Fed statement and, after a strong run from the end of September, were due for a “reprieve”, said Jason Ware, chief investment officer at Albion Financial, in Salt Lake City.
GoPro slumped 15.2 per cent to $25.62 after the action camera maker posted disappointing results. NXP Semiconductors sank 19.7 per cent to $73 after its bleak forecast. F5 Networks shares fell 9.3 per cent.