Nvidia and the Nasdaq slide as the Fed holds interest rates steady and tech stocks feel the pressure

Nvidia and the Nasdaq slide as the Fed holds interest rates steady and tech stocks feel the pressure

Photo: Bloomberg (Getty Images) The Nasdaq and other major indices declined following the Federal Reserve’s first meeting of the year, with the tech-heavy index falling 1.1% by the afternoon as investors digested the central bank’s cautious stance on interest rates. The Federal Open Market Committee kept the overnight borrowing rate unchanged in the 4.25% to…

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Commerce Department finalizes $6.6 billion in chips subsidies for TSMC

Commerce Department finalizes $6.6 billion in chips subsidies for TSMC

With President Joe Biden leaving office soon, the Commerce Department is wrapping up loose ends, including allocating billions of dollars in subsidies to help build advanced chips on U.S. soil.  The Commerce Department will give Taiwan Semiconductor Manufacturing (TSMC) up to $6.6 billion in direct funding for three semiconductor manufacturing facilities in Arizona, according to…

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