U.S. Stocks Open Lower and Big Tech Stocks slide

Tiger Newspress2022-04-26

U.S. stocks fell Tuesday as the April sell-off continued after a one-day bounce.

The Dow Jones Industrial Average eased about 240 points, or 0.7%. The S&P 500 dipped 0.6%. The Nasdaq Composite retreated 0.8%.

On Monday, the Dow reversed a near 500-point intraday loss to close up more than 200 points. The dramatic market rebound also pushed the S&P 500 and Nasdaq Composite to finish the day higher.

On Tuesday, concerns about global economic growth took center stage again. U.S. Treasury yields declined, with the benchmark 10-year rate falling below 2.8%.

Corporate earnings reports also set the tone Tuesday. Dow component 3M fell about 1% in morning trading despite better-than-expected earnings as the company noted macroeconomic and geopolitical challenges ahead.

Other industrial names like General Electric and Boeing were lower in early morning trading Tuesday. GE fell more than 5%, while Boeing eased 0.7%.

Microsoft and Google parent Alphabet were marginally lower in the premarket ahead of quarterly reports after the bell. Investors are on edge after Netflix's disappointing report last week and are looking to a slew of quarterly results this week to assess the mega-cap technology space.

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Comments

  • robot1234
    2022-04-27
    robot1234
    Nasdaq loses nearly 4%, hits fresh low for 2022. U.S. stocks fell sharply on Tuesday as investors dumped equities on fears of an economic slowdown. The tech-heavy Nasdaq Composite dropped almost 4% and hit a fresh 52-week low. The index retreated further into bear market territory, sitting now about 23% off its high. The DJIA shed near 2.5% and the S&P 500 lost nearly 3%. The strength in Big Tech stocks in recent years is likely to burst when fundamentals start to meaningfully deteriorate as the overall economy slows. Investors are worried about a Covid surge in China and the war in Ukraine. And is further aggravated by sky high inflation in the U.S, the highest in 40-year.
  • SPOT_ON
    2022-04-27
    SPOT_ON
    Like
  • Aenon
    2022-04-26
    Aenon
    Thanks
  • SimplicityB
    2022-04-26
    SimplicityB
    Cool
  • Ericsohth
    2022-04-26
    Ericsohth
    K
  • JustInvest
    2022-04-26
    JustInvest
    Dipping again [Facepalm] 
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