US stocks closed lower on the eve of the Federal Reserve’s rate decision, according to market data from BIT (bit.com) cited by BlockBeats on Sept. 16. The Dow Jones Industrial Average fell 0.63%, the Nasdaq dropped 0.78%, and the S&P 500 lost 0.45%, with the benchmark index logging its lowest close since August. Trading was described as subdued ahead of the Fed announcement.
Within semiconductor and storage names, moves were mixed. Seagate Technology (STX) fell 4.10%, Western Digital (WDC) lost 3.50%, and SanDisk (SNDK) slipped 1.30%, while Micron Technology (MU) rose 0.39%, Nvidia (NVDA) gained 0.57%, and Advanced Micro Devices (AMD) added 2.19%.
Optical communications stocks also showed a split performance. The Purely Photonics ETF (FOTO) edged down 0.06%, while Marvell Technology (MRVL) rose 1.32%, Ciena (CIEN) climbed 4.60%, and Nokia (NOK) gained 1.97%.
US stocks were subdued on the eve of the Federal Reserve’s rate decision, according to BIT (bit.com) market data cited by BlockBeats on Sept. 16, with all three major indexes closing lower.
At the close, the Dow Jones Industrial Average fell 0.63%, the Nasdaq dropped 0.78%, and the S&P 500 lost 0.45%. The S&P 500 also posted its lowest closing level since August.
Semiconductor and storage shares split
Performance across semiconductor and storage names was mixed.
- Seagate Technology (STX) fell 4.10%
- Western Digital (WDC) fell 3.50%
- SanDisk (SNDK) fell 1.30%
- Micron Technology (MU) rose 0.39%
- Nvidia (NVDA) rose 0.57%
- Intel (INTC) fell 0.05%
- Advanced Micro Devices (AMD) rose 2.19%
- Broadcom (AVGO) fell 1.58%
Optical communications names also diverged
Optical communications-related stocks did not move in one direction either.
- Purely Photonics ETF (FOTO) fell 0.06%
- Marvell Technology (MRVL) rose 1.32%
- AAOI (Applied Optoelectronics) fell 0.49%
- Lumentum Holdings (LITE) rose 0.47%
- Coherent Corp. (COHR) rose 1.75%
- Ciena Corporation (CIEN) rose 4.60%
- Fabrinet (FN) fell 2.00%
- AXT Inc. (AXTI) rose 1.12%
- Nokia (NOK) rose 1.97%
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