Banque Suisse,
Focus Méditerranéen

Stocks ended sharply lower as concerns about inflation drove longer-dated bond yields to an almost two-decade high after the Federal Reserve left rates steady despite a resurgence in oil prices. The S&P 500 fell 1.5%, with the gauge also pummeled by a rout in chipmakers. The Nasdaq 100 entered a technical correction, extending a slide from a record to 11%. Treasury 30-year yields hit the highest since 2007. Brent crude topped $90. In late hours, Meta Platforms Inc. gave a lackluster forecast. Microsoft Corp.’s cloud unit grew at the fastest pace in four years. The Nasdaq 100 Index closed in correction territory, pushing the broader stock market lower as the Federal Reserve refrained from raising interest rates but a trio of dissents signaled support for tighter monetary policy.