Shares of several companies in the broader technology sector, including Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), are trading lower amid overall weakness as traders continue to digest Wednesday's Fed rate hike announcement. An increase in yields has pressured technology and growth stocks.
The Federal Reserve raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years. The Fed also said it will begin reducing the size of its balance sheet starting on June 1… Read More
See Also: What's Going On With Twilio Stock Today?
Alphabet is a holding company, with Google, the Internet media giant, as a wholly-owned subsidiary.
According to data from Benzinga Pro, Alphabet Class A has a 52-week high of $3,030.93 and a 52-week low of $2,193.62.
