Why Meta Platforms, Salesforce.com, and Block Shares Were All Lower Today

Broad market indexes are in retreat again today, building on the declines suffered during the first week of 2022. Investors are mulling the effects of higher interest rates on the economy after minutes from the Federal Reserve's latest meeting, released last week, indicated more rate hikes might be in store than originally thought. Inflation is high, and getting cost increases back under control is the name of the game right now.

Even some of the biggest companies out there sporting solid growth rates are under pressure as a result. As of 1:25 p.m. ET today, shares of Meta Platforms (NASDAQ: FB) (Facebook's new name) were down 2.6%, Salesforce.com (NYSE: CRM) was down 1.9%, and Block (NYSE: SQ) (formerly Square) was down 3.5%.

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Source Fool.com