Tech sell-off pushes Nasdaq to steepest drop since June 2020

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The market initially responded positively to the Fed’s commentary on Wednesday, after Chair Jerome Powell said the Federal Open Market Committee wasn’t actively considering a rate hike any higher than a half point. However, the prospects of continued rate increases led to negative sentiment on Thursday, sending stocks down across the board.

WATCH: Cash is probably the safest place right now, says Barclays’ Deshpande

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