What's Going On With CrowdStrike Stock Today?

CrowdStrike Holdings, Inc. CRWD shares are trading down Wednesday. The decrease follows shares of other software stocks trading lower after comments from Fed Chair Jerome Powell suggesting further rate hikes may be needed to curb inflation.

What To Know: As reported by Benzinga, Powell reiterated the Fed's 2% inflation goal in an exchange with the House Financial Services Committee Wednesday. The Fed Chair explained that the level of interest rates is "different to the speed at which we move" and noted that the Fed remains committed to its target to support the economic well-being of lower-income communities.
Powell acknowledged that inflation remains far from the 2% target and noted that it's really hard to determine whether elevated interest rates will be the new normal.

According to Benzinga Pro, CNBC's Joe Terranova sold his position in CrowdStrike.

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CRWD Price Action: Shares of CRWD were down 4.91% at $144.62 at the time of publication, according to Benzinga Pro.

Image by Gerd Altmann from Pixabay