US stocks sink after Big Tech earnings disappoint

  • 📰 ftenergy
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Alphabet and Tesla lead 2.8% fall in Nasdaq

US technology stocks sank sharply on Wednesday after lacklustre overnight results from index heavyweights Tesla and Alphabet, deepening the recent sell-off in a sector that has driven the bulk of market gains this year.The Nasdaq Composite was down 2.8 per cent by early afternoon in New York, with Google parent Alphabet 5.1 per cent lower despite narrowly beating analysts’ revenue forecasts. Advertising revenue from YouTube missed consensus estimates.

However he claimed that the project could still take the company’s valuation as high as $5tn — about six times its current market value. Google’s spend and outlook was being used as an indicator for the wider trend of backing companies with links to generative AI, said analysts. All of the so-called Magnificent Seven were lower on Wednesday. Chipmaker Nvidia, which has more than doubled this year, was down by almost 4 per cent.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 47. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Big tech shares lose lustre as US market rocked by violent rotationSmall-cap stocks surge in expectation they will benefit disproportionately from a Fed interest rate cut
La source: ftenergy - 🏆 47. / 63 Lire la suite »