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Crypto exchange Gemini agrees to return $1.1bn to users

Tech stocks fell by the most in a week in another session of declines for Wall Street’s major indices.

The tech-heavy Nasdaq Composite closed 0.5 per cent lower on Wednesday, its biggest one-day drop since February 20. The S&P 500 dropped 0.2 per cent.

The Nasdaq closed at a record high on February 22, while the benchmark S&P 500 notched a peak the following day.

Investors will now turn their attention to the release of the personal consumption expenditure report on Thursday for signs of the Federal Reserve’s path forward on interest rates.

The two-year Treasury yield, which moves with interest rate expectations, fell 0.06 percentage points to 4.65 per cent. Yields move inversely to prices.

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