Posted 3/20/2024, 1:33:00 PM
Stocks Cautious Ahead of Fed Rate Decision; Gucci Sales Drop, CHIPS Funding for Intel, Bitcoin Falls Before Halving
- US stocks mixed as investors await Fed decision on interest rates and economic outlook
- Luxury brand Kering warns of 20% drop in Gucci sales, wiping $7.6B off market value
- Biden administration announces $8.5B in CHIPS funding for Intel manufacturing plants
- Focus on whether Fed shifts view on projected interest rate cuts for 2024
- Crypto market loses $400B as Bitcoin falls 17% from recent peak ahead of upcoming halving event