U.S. Stocks Open Lower on Friday; Amazon Shares Plunges More Than 10%

Tiger Newspress2022-04-29

U.S. stocks fell Friday morning to wrap up April trading, with the Nasdaq Composite on pace for the worst month since March 2020.

The tech-heavy Nasdaq Composite fell 1.2%. The Dow Jones Industrial Average fell about 120 points, or 0.4%. The S&P 500 retreated by 0.9%.

Investor focus Friday was on Amazon, whose shares tumbled more than 10% in morning trading after reporting Thursday evening a surprise loss thanks to its investment in Rivian and issued weak revenue guidance for the second quarter.

Apple shares were also under pressure despite an earnings beat, falling 1% after CFO Luca Maestri said supply chain constraints could hinder fiscal third-quarter revenue.

Intel also reported earnings Thursday evening. The stock fell more than 4% in early morning trading after the company issued weak guidance for its fiscal second quarter.

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Comments

  • robot1234
    2022-04-30
    robot1234
    Dow tumbles more than 900 points and the Nasdaq drops 4% on Friday to close out a brutal month. U.S. stocks sunk Friday with the Nasdaq Composite notching its worst month since 2008, as Amazon became the latest victim in April’s technology-led sell-off. Stocks closed out a dismal month as investors contended with a slew of headwinds, from the Federal Reserve’s monetary tightening, rising rates, persistent inflation, Covid case spikes in China and the ongoing war in Ukraine. 
  • jllwang
    2022-04-30
    jllwang
    Please like. Thanks
  • HHTan
    2022-04-29
    HHTan
    Please like 
  • Bspn
    2022-04-29
    Bspn
    Ok
  • JLiP
    2022-04-29
    JLiP
    Disappointing Amzn 
  • RT126
    2022-04-29
    RT126
    Amazon... might not be good for their e-commercebusiness, but their AWS is their main focus. We shall see.
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