🔴 SoftBank Group is trading 3.09% down today as Fed’s rate hike pressures tech stocks

SoftBank Group is trading at $19.47, down 3.09%, as investors digest the Federal Reserve’s 25-basis-point rate hike to 3.75%-4.00% and renewed pressure on growth-oriented technology stocks.

• Broader markets are lower: the S&P 500 is down 0.86%, Nasdaq down 0.52%, and Dow down 1.58%.
• Recent SB Energy IPO news remains supportive but is not a clear explanation for today’s decline; Reuters reported a potential $500 million share sale.