Nasdaq closes down over 2% after Snap’s warning; Dow ekes out gain

0
16

Major U.S. stock indexes closed mixed Tuesday in choppy trade punctuated by another sharp selloff in the internet sector. The Dow Jones Industrial Average djia swung to a slight gain late in the session, adding about 50 points, or 0.2%, to end near 31,931. The main action resided in the tech-heavy Nasdaq Composite Index comp, which shed 2.4%, while the S&P 500 index spx closed down 0.8%, failing to add to Monday’s bounce for the large-cap index. An earnings warning from Snapchat parent Snap snap was pegged as a key catalyst for losses in internet stocks, which swept up other social-media companies, including Facebook parent Meta Platforms Inc. fb, Pinterest Inc. pins, Google parent Alphabet goog and Twitter Inc. twtr.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleAbercrombie & Fitch swings to loss and gives guidance below Street expectations
Next articleThe Moneyist: ‘I have great plans for myself’: My girlfriend doesn’t understand how her student loan works and rents a pricey apartment. What if we marry — and divorce? 

LEAVE A REPLY

Please enter your comment!
Please enter your name here