NEW YORK — A wipeout on Wednesday sent U.S. stock indexes to their worst losses since 2022 after profit reports from Tesla and Alphabet helped suck momentum from Wall Street’s frenzy around artificial-intelligence technology. The S&P 500 tumbled 2.3% for its fifth drop in the last six days. The Dow Jones Industrial Average dropped 504 points, or 1.2%, and the Nasdaq composite skidded 3.6%. The profit reports from Tesla and Alphabet weren’t disasters, but they raised questions among investors about which other market heavyweights’ springtime results could fall short of expectations, said Sam Stovall, chief investment strategist at CFRA. “How many disappointments are we likely to see?
Stock Market Today: A Wipeout On Wall Street Sends The S&p 500 Down By 2.3% As Big Tech Skids
Stan Choe, Alex Veiga, Chicago Tribune: Business
Wed, 07/24/2024 - 2:59pm
Topics: york the s&p dow jones industrial average sam stovall cfra how ubs joseph spak at alphabet profit magnificent alphabet amazon meta platforms the russell smaller federal reserve september goldilocks chris williamson s&p global market intelligence november s at&t hot wheels lamb weston french the dow asia france s cac lvmh paris louis vuitton dior ap business writer matt ott a tesla alphabet wall street s s&p a in nasdaq wall street ai alphabet magnificent apple microsoft nvidia treasury big tech tesla s wipeout stocks dropped expected growth fell drop interest momentum index investors questions yields spring time indexes points helped chief weight short worst reports suggested tumbled rise group reported move including revenue investments high
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