Tech drags stocks down after Snap's profit warning
newscatcher
2022-05-24 14:30
Tech drags stocks down after Snap's profit warning
Stocks declined on Tuesday after a profit warning from Snap Inc. weighed on technology shares while a gauge of US business activity softened.  The Snapchat owner plunged a record 40 per cent, while Meta Platforms Inc. and other companies that rely on digital advertising also tumbled. The Nasdaq 100 followed European and Chinese tech stocks lower.  The S&P 500 fell just as the benchmark was starting to pull back from the brink of a bear market amid fears the Federal Reserve's tightening could hurt growth.

http://www.bnnbloomberg.ca/asia-stocks-to-get-boost-from-us-china-tax-plans-markets-wrap-1.1769655

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