**Markets close mostly lower amid worries over recession, earnings**
**Technology shares drag on Wall Street, but energy stocks rise**
**The Federal Reserve is expected to raise interest rates again next week**
U.S. stocks closed mostly lower on Thursday as investors worried about the possibility of a recession and mixed corporate earnings reports. The Dow Jones Industrial Average fell 0.5%, the S&P 500 lost 0.8%, and the Nasdaq Composite dropped 1.3%.
Technology shares were among the biggest decliners of the day. Apple, Microsoft, and Amazon all fell more than 1%. The declines came after the release of disappointing earnings reports from some tech companies, including Snap and Twitter.
Energy stocks were among the few gainers of the day. Exxon Mobil and Chevron both rose more than 1% as oil prices continued to climb.
The Federal Reserve is expected to raise interest rates again next week in an effort to combat inflation. The central bank has already raised rates several times this year, and it is expected to continue to do so until inflation falls back to its target of 2%.
The rate hikes have raised concerns about a possible recession. Some economists believe that the Fed is raising rates too quickly, which could cause the economy to slow down or even contract.
The uncertainty about the economy and the Fed's rate hikes is weighing on investor sentiment. As a result, stocks are likely to remain volatile in the near term.
**Here are some of the other market movers today:**
- Supermicro shares jumped 26% after the company reported strong earnings.
- Novo Nordisk shares fell 6% after the company cut its sales forecast.
- Arista Networks shares rose 4% after the company reported better-than-expected earnings.
- Arm shares fell 4% after the company reported a wider-than-expected loss.
- M&S shares fell 7% after the company reported a decline in sales.
- Berkshire Hathaway shares rose 1% after the company reported strong earnings.
- Airbnb shares fell 3% after the company reported a wider-than-expected loss.
- Marriott International shares rose 2% after the company reported strong earnings.
