Nasdaq Had Worst Fed Decision Day for 23 Years as Tech Stocks Got Hammered

The dust is settling on Thursday, but investors are likely still licking their wounds from the previous session. Jerome Powell’s gloomy comments led to one of the worst Fed decision days ever, according to Dow Jones Market Data.

Tech led the selloff, with the Nasdaq 100 plunging 3.6% for its worst such day since March 2001. The benchmark S&P 500 hasn’t fallen so sharply since the central bank held rates near zero in January 2009, while the Dow Jones Industrial Average had its worst Fed decision day since March 2020.