Nasdaq Tumbles as Downbeat Tech Earnings Fuel Growth Fears
The tech-heavy Nasdaq index opened 2 percent lower on Wednesday as disappointing results and warnings from Microsoft and Alphabet sparked losses in megacap companies and raised fears of slowing economic growth.
The Dow Jones Industrial Average fell 98.30 points, or 0.31 percent, at the open to 31,738.44. The S&P 500 opened lower by 33.14 points, or 0.86 percent, at 3,825.97, while the Nasdaq Composite dropped 230.10 points, or 2.05 percent, to 10,969.02 at the opening bell.
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