Wall Street’s main indexes dropped on Wednesday, as Microsoft’s outlook weighed down technology stocks, while a bleak quarterly report from Boeing added to fears of a recession. Th…
The Dow tumbled 356 points, or 1.1%, to 33,377, the Nasdaq slid 1.8%, and the S&P 500 was down 1.3%.
Amazon, Salesforce and ServiceNow, which have substantial cloud businesses, fell between 2.5% and 4.5%.Growth stocks, however, have enjoyed a bounce in January after a battering last year, with investors now focused on earnings reports to assess the impact of theand to gauge whether the renewed enthusiasm for these stocks will be sustained.
“We still have inflation, we still have the Fed raising interest rates, we’re seeing companies laying off thousands of peoples … We’re not completely through the cycle yet.”
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