Wall St slides after gloomy earnings led by Tesla

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Major US stock indexes ended lower after disappointing quarterly reports from companies including Tesla and AT&T

Investors are assessing the path for interest rates, and many expect a slowing U.S. economy could lead the Federal Reserve to start cutting rates later this year as the central bank juggles its fight against inflation. Datathe number of Americans filing new claims for unemployment benefits increased moderately last week, suggesting the labor market was gradually slowing.

Markets were focused on a bevy of Fed officials speaking at the end of the week ahead of the central bank's meeting early next month, when investors widely expect a 25 basis point hike. Dallas Fed President Lorie Logan said she is assessing whether the Fed has made enough progress on fighting inflation based on three markers, including "further and sustained" improvement in measures of inflation.

 

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