Why Apple Shares Are Falling Wednesday

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. Apple Inc.shares are trading lower by 1.66% to $154.29 going into the close of Wednesday’s trading session as the market reacts to the Fed’s decision to hike rates.

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