US Stocks Lower, Meta Sinks
US stocks fell on Thursday, with the S&P 500 down 0.9%, the Nasdaq losing 1.5% and the Dow Jones declining nearly 120 points. Tech stocks remained under pressure as corporate earnings failed to impress investors sand prompted further concerns over AI trade while the rotation away from semiconductor stocks continued. Communication services and consumer discretionary were also under heavy pressure while consumer staples outperformed. Meanwhile, oil prices climbed amid renewed supply risks and escalating geopolitical tensions. Meta tumbled 6% despite reporting higher earnings and revenue, while Tesla fell 2.4% after scaling back its spending plans, as capital investment in the previous quarter came in below expectations. Lam Research tumbled more than 10% after issuing a disappointing outlook. Nvidia dropped 1.7%, while IBM lost 2.1%. In addition, Honeywell fell 0.5% despite raising its full-year outlook. In contrast, Lockheed Martin gained 8.6% after beating on earnings and revenue.
US stocks fell on Thursday, with the S&P 500 down 0.9%, the Nasdaq losing 1.5% and the Dow Jones declining nearly 120 points. Tech stocks remained under pressure as corporate earnings failed to impress investors sand prompted further concerns over AI trade while the rotation away from semiconductor stocks continued. Communication services and consumer discretionary were also under heavy pressure while consumer staples outperformed. Meanwhile, oil prices climbed amid renewed supply risks and escalating geopolitical tensions.
Meta tumbled 6% despite reporting higher earnings and revenue, while Tesla fell 2.4% after scaling back its spending plans, as capital investment in the previous quarter came in below expectations. Lam Research tumbled more than 10% after issuing a disappointing outlook. Nvidia dropped 1.7%, while IBM lost 2.1%. In addition, Honeywell fell 0.5% despite raising its full-year outlook.
In contrast, Lockheed Martin gained 8.6% after beating on earnings and revenue.