Stocks dipped Wednesday after the Federal Reserve raised rates by 25 basis points, as was widely expected. The Dow fell 0.80%. The S&P 500 shed 0.70%. The Nasdaq slipped 0.46%.
were fell more than 4% on Wednesday after Mizuho reiterated its underperform rating on the crypto stock and lowered its price target to $27 from $30.
"Despite COIN's recent efforts to boost sentiment , fundamentals remain weak," Dolev said. "Average daily trading volumes are $1.16bn in 2Q-to-date, -27% below both March and overall 1Q levels.
Horizon Investments' CIO Scott Ladner says the economy is already seeing the Federal Reserve's rate hikes take significant effect.
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