S&P 500, Nasdaq slump as tech shares lead U.S. stocks lower after mixed earnings

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Isabel Wang is a Markets Reporter for MarketWatch.

U.S. stock indexes fell Wednesday morning, led by a slide in technology shares after behemoths Alphabet and Microsoft delivered a mixed picture of earnings, while longer-dated Treasury yields resumed their march higher ahead of inflation data on Friday and interest-rate decisions by the Federal Reserve next week.

The S&P 500 communication services sector XX:SP500.50, which includes high-profile names as Alphabet, Meta Platforms META, -1.85% and Netflix NFLX, +0.26%, slumped 4.6% on Wednesday, on track for its worst day since October 2022, according to FactSet data. Tim Urbanowicz, head of research and investment strategy at Innovator ETFs, said despite good news so far in the third-quarter earnings season, investors need to back up and remember they are in a macro driven market. “A Lot of the earnings news will take a backseat to the economic data,” he said in emailed comments on Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines