U.S. stocks continued their weeks-long slide on Thursday after the Federal Reserve hiked interest rates.

The Dow Jones Industrial Average closed down 107.69 points, or, 0.36%, to 30,076.09. The S&P 500 dropped 32.07 points, or 0.85%, to 3,757.86, and the Nasdaq Composite was down 153.39 points, or 1.37%, to 11,066.81.

Competing concerns of inflation and recession have led to investor uncertainty, leading to choppy trading and a bear market over the last several weeks.

The Fed raised interest rates by 0.75% on Wednesday, the third consecutive time the central bank hiked rates by that much.

Federal Reserve Chair Jerome Powell said the measures are meant to stifle inflation. But some see the hikes as too aggressive and there are fears that the Fed's actions could push the economy into recession.

"None of those voting on the Federal Reserve is focused on the significant price deflation in the pipeline," Cathie Wood, an analyst at Ark Invest, said in a tweet. "The Fed seems to be making decisions based on lagging indicators and analogies."

Some of the stocks that declined Thursday were Uber (UBER), which closed at $28.58, down $1.89, or 6.20%, as well as Carvana (CVNA), which plunged $3.69, or 12.04%, to close at $26.97.