Stocks slammed as Dow tumbles 809 points, Nasdaq 3.9%
Case-Shiller's Housing Index rose a record 20.2% in February
Time for investors to shift focus from 'macro to micro': Expert
National Securities Corporation chief market strategist Art Hogan predicts Tuesday's earnings rally to be a positive shift for investors.
U.S. stocks closed at the lows of the session on Tuesday as technology stocks paced the broad declines with the Nasdaq Composite off 3.9%. Inflation fears, slowing economic growth and a Federal Reserve prepared to raise interest rates creating the perfect storm for investors.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 45166.64 | -793.47 | -1.73% |
| SP500 | S&P 500 | 6368.85 | -108.31 | -1.67% |
| I:COMP | NASDAQ COMPOSITE INDEX | 20948.356621 | -459.72 | -2.15% |
The Dow Jones Industrial Average lost 809 points or 2.4%, while the S&P fell 2.8%.
The selling comes ahead of Microsoft and Google earnings due after the bell.
S&P 500 ABOUT TO FALL SHARPLY AS IT TEETERS ON BRINK OF BEAR MARKET, MORGAN STANLEY SAYS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 356.77 | -9.20 | -2.51% |
| GOOGL | ALPHABET INC. | 274.34 | -6.58 | -2.34% |
| AMZN | AMAZON.COM INC. | 199.34 | -8.20 | -3.95% |
| AAPL | APPLE INC. | 248.80 | -4.09 | -1.62% |
Later in the week, investors will hear from Amazon and Apple.
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In other earnings news, Pepsi joined Coca-Cola in reporting better than expected results. The soda and snack maker also lifted its revenue outlook for the year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PEP | PEPSICO INC. | 153.04 | +2.21 | +1.47% |
| KO | THE COCA-COLA CO. | 75.71 | +1.02 | +1.37% |
General Electric shares fell after revenue fell short of the company's expectations tied to supply-chain issues and Russia-Ukraine headwinds.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GE | GE AEROSPACE | 282.81 | -2.43 | -0.85% |
Twitter remains in focus as investors handicap what the new, privately held company will look like under the direction of Elon Musk.
TWITTER ACCEPTS MUSK'S $44 BILLION DEAL
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | NO DATA AVAILABLE | - | - | - |
U.S. stocks were choppy early Tuesday morning as first-quarter earnings season kicks into high gear. (Courtney Crow/New York Stock Exchange via AP)
NETFLIX SUBSCRIBER LOSSES PROMPT ANIMATED PROJECT CANCELLATIONS: REPORT
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 124.19 | +6.90 | +5.88% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 52.70 | +2.15 | +4.24% |
In commodities, oil rebounded, with U.S. crude rising to the $101.70 per barrel level, while Brent, the global benchmark, hit $104.99
In cryptocurrencies, Bitcoin fell below the $40,000 level.
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The Associated Press contributed to this report.