Shares of technology companies sank as the Federal Reserve's minutes from its July rate-setting meeting showed most senior officials continued to see "upside inflation risks," which could lead to more interest-rate hikes.
Intel scrapped its more-than-$5 billion offer to buy Israeli chip maker Tower Semiconductor after Chinese regulators failed to approve the deal, showing how U.S.-China technology tensions are disrupting strategic plans for some major American companies.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
08-16-23 1731ET
