What is the current Fed interest rate?

The Fed's benchmark rate is at 3.5%–3.75%, unchanged since the cut in late 2025.

Were other tech stocks affected?

Yes, losses were widespread across the technology sector, including Salesforce and Amazon Web Services.

Paycom, Adobe, Sprinklr Shares Plunge After Fed Decision

Shares of Adobe (ADBE), Paycom, and Sprinklr plunged in afternoon trading after the Federal Reserve kept its benchmark rate at 3.5%–3.75% and signaled the easing cycle may be over.

June 18, 2026

2 min read

Source: StockStory

Key Numbers

fed rate

3.5%–3.75%

rate cut

three-quarters of a point

Shares of several technology companies, including Adobe (ADBE), Paycom, and Sprinklr, experienced sharp declines in afternoon trading following the Federal Reserve's decision to hold its benchmark interest rate at 3.5%–3.75%, unchanged since the central bank cut rates by three-quarters of a point in late 2025.

Possible Causes

The Fed's dot plot indicated that the easing cycle that had supported the sector's re-rating might be over, raising investor concerns about prolonged high interest rates. This decision negatively impacted high-valuation stocks, especially in the technology sector.

Context

Prior to this decision, tech stocks had benefited from expectations of rate cuts in 2026, driving prices higher. However, with the Fed signaling a pause in easing, selling pressure returned. Over the past week, these stocks had already been volatile, declining between 5% and 10%.

Similar Moves in the Sector

Losses were not limited to these stocks; the broader technology sector was hit, with indices like the Nasdaq falling significantly. Other companies such as Salesforce and Amazon Web Services also saw declines.

Frequently Asked Questions

The shares fell after the Fed held rates steady and signaled the easing cycle may be over, raising concerns about prolonged high interest rates.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.