US retail sales dropped 0.3% in May, the biggest decline in 16 months.
In corporate news, shares in electric vehicle maker Tesla were higher following news that its Model X SUV has been given a five-star safety rating and after Ron Baron, the founder of Baron Capital, told CNBC the stock could jump by more than 50% by next year. The hike will push interest rates above 1 percent for the first time since the immediate aftermath of the collapse of Lehman Brothers in 2008.
Technology shares with declines included Apple, down 0.6 percent, Amazon, down 1.3 percent, Priceline, down 1.2 percent, and Tesla Motors, down 1.5 percent.
"With the weak data, you start to wonder why the Fed is so bent on raising rate".
IPhone 8 Design, iPhone 7S Wireless Charging [Leak]
And below is a photo of the iPhone 8 frame alongside what we believe are frames for the iPhone 7s and iPhone 7s Plus. The camera ring has also been leaked, and it shows places for two sensors, with the flash sitting in between the two.
NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.
"The market should take confidence in the fact that they're being very transparent in setting clear policy steps in terms of how they normalize the balance sheet", said Heidi Learner, chief economist for Savills Studley, a unit of Savills Plc, in NY.
The Fed clearly outlined a plan to reduce its US$4.2-trillion (RM17.89-trillion) portfolio of Treasury bonds and mortgage-backed securities, most of which were purchased in the wake of the 2007-2009 financial crisis and recession. The index had hit a record intraday high of 21,354.56 shortly after the open.
What will United Kingdom election result mean for Brexit?
According to a forecast from BBC , the Conservatives stand to win 322 seats, short of the 326 needed to secure a majority. As one teaching student at the University of London told VOA, "I think most of us here were against Brexit a year ago ".
The Nasdaq composite sank 29.39 points, or 0.5 percent, to 6,165.50.
The Dow is up 87.93 points, or 0.4 percent.
The S&P 500 is up 6.15 points, or 0.3 percent. The stocks provided the biggest boost to the S&P and the Dow. The stock provided the biggest boost to the S&P and the Dow.
Trump to announce plan to stop cash flow to Cuban military
That company, which owns hotels, restaurants, stores and money exchanges in Cuba, is believed to control over half the economy. But none of the changes will become effective until the Treasury Department issues new regulations, which could take months.
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