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January 20, 2022

Stocks continue to slide as possible rate hikes loom

By DAMIAN J. TROISE
AP Business Writer

Stocks closed broadly lower on Wall Street Wednesday and deepened the weekly losses for major indexes following another choppy day of trading.

The major indexes bounced between gains and losses throughout the day, with technology stocks again giving direction to the broader market. The sector has triggered much of the choppiness in the market as investors shift money in expectation of rising interest rates. Higher rates make shares in high-flying tech companies and other expensive growth stocks relatively less attractive.


 
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