Dow sinks 2.4 percent

27 April 2022
2022-04-27 10:12

Stocks fell in afternoon trading on Wall Street as markets remain turbulent amid a busy week of earnings from some of the nation's biggest companies. The Dow Jones Industrial Average fell 809 points, or 2.4%, to 33,240.

The slide for major indexes follows a mostly weak day on Monday that turned into a late rally, partially led by technology stocks after Twitter agreed to sell itself to Tesla CEO Elon Musk. The social media company fell 2.9% Tuesday, while Tesla slumped 11% over concerns that Musk will be distracted and less engaged in running the electric vehicle maker. Technology stocks were once again directing the broader market and had some of the biggest losses.

Microsoft fell 2.9% and Apple shed 2.8%. Both companies will report their latest financial results later Tuesday. Retailers and other companies that rely on direct consumer spending also fell broadly. General Motors, which also reports its latest results later Tuesday, slipped 3.8%. Nike fell 5.2%.

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