What’s Going On With Nvidia And AMD Shares Getting Hammered This Week – NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD)

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 3% and 3.25%. The Fed said it will continue with its previously announced plan to let Treasury securities and agency debt and agency mortgage-backed securities roll off its balance sheet on a monthly basis. An economic slowdown could drive consumers to cut back on discretionary spending, cause weakness in end markets and impact semiconductor and chip demand. NVIDIA Corporation NVDA and Advanced Micro Devices, Inc. AMD shares are lower by 6.5% to $123.94.

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