🔥Market Opened Lower, SNAP -30.31% Down
@daz888888888：
$Snap Inc(SNAP)$ WALL Street’s main indexes opened lower on Friday (Oct 21) as Snap’s forecast of no revenue growth in the lucrative holiday quarter sparked a selloff in social media companies, with galloping US Treasury yields adding to the losses. A report on Federal Reserve officials to likely debate how to signal plans to approve a smaller increase in December limited the losses. The Dow Jones Industrial Average fell 42.4 points, or 0.14 per cent, at the open to 30,291.18. The S&P 500 fell 8.7 points, or 0.24 per cent, at the open to 3,657.1, while the Nasdaq Composite dropped 38.8 points, or 0.37 per cent, to 10,576.037 at the opening bell. Main Culprit Was SNAP Snap Inc. SNAP -30.31%▼ posted a further slowdown in sales growth and signaled the digital-ad market could remain lackluster for some time, sending its shares sharply lower in late trading. Snap, in an investor letter Thursday, said it is operating on an assumption of no revenue growth this quarter from the year-ago period, even though it has seen about 9% growth so far for the period. Analysts surveyed by FactSet have been expecting almost 7% growth for the fourth quarter.
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