Stocks Slip from Highs as Fed Holds Rate Forecast; Boeing Gains on CEO Retirement; Tech Firms Face EU Scrutiny
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Stocks fell on Monday, retreating from last week's record highs after the Fed maintained its forecast of three interest rate cuts in 2024. The Dow slid 0.4% and the S&P 500 and Nasdaq dropped 0.3%.
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Boeing shares rose after announcing CEO Dave Calhoun will retire at end of year. The company also announced immediate departure of commercial airplanes chief.
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Chip stocks Intel and Microsoft slipped on reports of new Chinese restrictions on foreign chips and software used in government computers.
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United Airlines stock declined after FAA said it was increasing oversight of the carrier following recent safety incidents.
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Apple, Meta, and Alphabet faces investigations by European Union over compliance with new Digital Markets Act and whether policies still harm consumers.