The initial rally in technology stocks after the Federal Reserve meeting proved to be short-lived with the shares of most megacap companies closing lower for the week.
Apple Inc. and Microsoft Corp., the largest by market value, were the two worst performers. Apple suffered a drop of 4.6%, its worst weekly decline since February. Microsoft fell 5.5%, the biggest weekly decline for the software maker since October 2020. Google-parent Alphabet Inc. sank 4.2%.