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Wall Street ends lower as Meta weighs - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Wall Street ended lower on Monday, as investors digested recent quarterly results from mega caps Amazon and Facebook owner Meta Platforms, while Peloton jumped following reports of interest from potential buyers, including Amazon.

Amazon.com Inc traded higher for much of the session after expanding its market capitalisation by around $190 billion on Friday on the back of blowout earnings.

Meta was among the companies that weighed on the S&P 500 more than any other stock, while Nvidia lifted the index more than any other stock. The S&P 500 remains down more than 5% so far in 2022, with investors worried about the US Federal Reserve could raise interest rates faster than expected. According to preliminary data, the S&P 500 lost 16.44 points, or 0.37%, to end at 4,484.08 points, while the Nasdaq Composite lost 82.25 points, or 0.58%, to 14,015.75.Tyson Foods Inc surged after the meat-packer’s first-quarter profit nearly doubled and surged past estimates on the back of higher prices.

 

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