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Stock Market Today: Dow ends lower on drag from Google, Boeing; yields resume rise

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Stock Market Today: Dow ends lower on drag from Google, Boeing; yields resume rise

Investing.com -- The Dow fell Wednesday, pressured by rising Treasury yields and Alphabet-led weakness in tech following disappointing quarterly results in its cloud business.

Some tech bulls, however, said the selloff was overdone as its cloud makes up about only 11% of revenue. Azure reported growth of 28%, a a 1-point acceleration from 27% in fourth quarter and was “the star of the show,” UBS said, beating analyst expectations of 26%. Ongoing strength of the economy, which threatens to fuel inflation has been highlighted as a key concern by Federal Reserve chairman Jerome Powell that could force the Fed to lift rates again.) fell more than 2% after the aircraft maker reported a wider than expected loss and cut its annual guidance on 737 Max deliveries amid a manufacturing problem with the aircraft.

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