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 | 52348.39 | -576.76 | -1.09% |
| SP500 | S&P 500 | 7482.71 | -21.14 | -0.28% |
| I:COMP | NASDAQ COMPOSITE INDEX | 25870.652259 | +51.96 | +0.20% |
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. | 383.34 | -5.50 | -1.41% |
| GOOGL | ALPHABET INC. | 361.92 | -5.11 | -1.39% |
| AMZN | AMAZON.COM INC. | 243.62 | -2.36 | -0.96% |
| AAPL | APPLE INC. | 313.39 | +2.73 | +0.88% |
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. | 142.51 | -2.47 | -1.70% |
| KO | THE COCA-COLA CO. | 83.40 | -0.65 | -0.77% |
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 | 356.03 | -10.95 | -2.98% |
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 | 112.21 | +3.29 | +3.02% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 43.57 | +1.64 | +3.91% |
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.