NEW YORK (dpa-AFX) – Against the background of bad news from the social media industry, the US stock exchanges gave up some of their gains from the previous day on Tuesday. During the leading index Dow Jones Industrial managed to break even in the last few minutes of trading, the technology-heavy Nasdaq dropped 100 strong feathers. Bad mood spread here the cashed forecast from Snap
, which dragged down large parts of the industry. The news from the Snapchat group fueled renewed concerns about risks to economic growth.
The Dow looked like losses for a long time before turning positive shortly before the close. In the end, the leading index recorded a gain of 0.15 percent at 31,928.62 points. The previous day it had increased by almost 2 percent. The market-wide S&P 500 suffered losses accept, which fell by 0.81 percent to 3941.48 points. The tech-heavy Nasdaq 100
slipped 2.20 percent to 11,769.84 points.
“These wild day-to-day swings have become the norm as investors try to bottom out in the markets only to be hit again by one or two negative headlines,” writes market analyst Craig Erlam at The Broker Oanda. Lousy growth forecasts in China and Snap’s profit and sales warning seemed to be the reason for the price slide on Tuesday./jcf/la/ngu
ISIN US2605661048 US6311011026 US78378X1072
AXC0342 2022-05-24/22:24
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