S&P 500 ends lower; Snap drags down Nasdaq
STORY: The S&P 500 and Nasdaq finished in the red on Tuesday, retreating from Monday's rally, after fresh economic data painted a picture of waning momentum for the U.S. economy, with new home sales plunging and business activity decelerating.
Rob Haworth is senior investment strategy director at U.S. Bank Wealth Management.
"We've had tough economic data. First, the flash purchasing managers’ surveys from Europe were disappointing. U.S. purchasing managers’ surveys from S&P Global were also disappointing, as well as new home sales, which came in much below expectations. Expectations have been for around 750,000. We came in at 591,000 for last month, which is quite surprising and reflects a significant slowdown in home purchase activity."
The Dow did eke out a small gain at the very end of the session. The S&P 500 also pared losses in afternoon trading but still finished eight tenths of percent lower, while the tech-heavy Nasdaq lost 2.3%.
Much of the sell-off was driven by a profit warning from Snap, which sent its shares plummeting 43% - their worst single-day loss in the company's history.
That took down the entire social media segment, with Facebook-owner Meta Platforms, Google-parent Alphabet, Twitter and Pinterest all notching significant losses.
Shares of Abercrombie & Fitch fell 28% after the apparel retailer posted a surprise quarterly loss and cut its annual sales and revenue outlook.
But shares of Zoom Video Communications jumped more than five and a half percent after the work-from-home darling raised it full-year profit forecast, citing solid enterprise demand.
相關影片推薦
- 1:48富邦陳金鋒總教練上前抗議判決 遭驅逐出場中華職棒大聯盟影音18,233 次觀看・17 小時前
- 1:48嘉義2診所醫師涉詐領健保 2醫師各50萬交保華視影音26,167 次觀看・19 小時前
- 2:47唐綺陽運勢 / 本週星座運勢:4/22~4/28一周星象預報!適逢節氣交替,多注意身體健康!唐綺陽談星室11,324 次觀看・1 天前
- 1:30雲林上千顆西瓜遭"割藤" 農民氣炸痛罵"沒天理民視影音16,019 次觀看・1 天前
- 2:54巴黎奧運倒數 盤點多國隊服 法國開幕超「紳士」、日本「低碳」亮相Yahoo奇摩(國際通)16,665 次觀看・1 天前
- 1:045/1確定無法全國放假! 「非勞工」仍要上班華視影音184,320 次觀看・1 天前
- 1:40陳致遠夫婦被「落石砸車」 驚險畫面曝光|#鏡新聞鏡新聞112,049 次觀看・22 小時前
- 6:11強震來臨這3個縣市最危險 李鴻源曝災防都更因「票房毒藥」難行今天誰來沛300,428 次觀看・1 天前
- 1:46嘉義兒科名醫與連襟聯手涉詐健保費 10年詐領百萬TVBS新聞網影音1,964 次觀看・16 小時前
- 2:01搶爆!台積電美廠徵水電工 台師傅:超心動東森新聞影音2,499 次觀看・16 小時前