Sunday, October 2, 2022

down Wall Street; Technology and travel companies fall

Share prices on the New York Stock Exchange fell in the afternoon on Tuesday after falling on poor financial reports from technology and travel companies and investors tracking inflation.

The S&P 500 index fell 0.4%, while the Dow Jones Industrial Average fell 20 points (0.1%) to 32,812 and the Nasdaq fell 1.3%.

Tech stocks fell sharply, leading the rest of the market to fall.

Chipmaker Micron Technology fell 5.7% after warning investors that profits could be dented by a slump in demand.

That warning hit the entire chipmaker industry. Nvidia fell 5.6%.

Norwegian Cruise Line fell 12.2% after issuing disappointing financial reports and unfavorable forecasts. This saddened the entire travel sector: Expedia fell 3.2% and American Airlines lost 3.3%.

US crude oil prices changed little and the energy sector advanced. Exxon Mobil rose 2.9%.

Audience measurement company Nielsen rose 21.4% as it announced progress in talks to be acquired by a private equity company.

The yield on US 10-year Treasury bonds rose to 2.78% from 2.75%.

Investors remain watchful of inflationary trends. The US government will release its report on consumer prices for July on Wednesday and producer prices on Thursday.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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