Microsoft Corp MSFT shares are trading lower by 3.18% to $249.04 going into the close of Thursday's session. Shares of several companies in the broader technology sector are trading lower amid overall market weakness following Wednesday's Fed decision, in which the Fed raised rates by 50 bps and increased its federal funds rate projections.
What Happened?
The broader market is sliding Thursday after the Federal Reserve on Wednesday raised its target range for the federal funds rate by 0.5%, bringing the new target up to a range of 4.25% to 4.5%.
The Fed will continue to reduce its holdings of Treasury securities, agency debt and agency mortgage-backed securities on a monthly basis. The committee anticipates that ongoing increases in the target range will be appropriate to return inflation to its 2% goal over time...Read More
According to data from Benzinga Pro, MSFT has a 52-week high of $344.30 and a 52-week low of $213.43.
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