{"id":24580,"date":"2022-04-26T21:04:05","date_gmt":"2022-04-26T21:04:05","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/04\/26\/u-s-stocks-take-sharp-plunge-ahead-of-major-tech-earnings\/"},"modified":"2022-04-26T21:04:05","modified_gmt":"2022-04-26T21:04:05","slug":"u-s-stocks-take-sharp-plunge-ahead-of-major-tech-earnings","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/04\/26\/u-s-stocks-take-sharp-plunge-ahead-of-major-tech-earnings\/","title":{"rendered":"U.S. stocks take sharp plunge ahead of major tech earnings"},"content":{"rendered":"<section >\n<p>Shares fell on Tuesday afternoon as markets remain turbulent amid an intense week of gains by some of the country\u2019s largest companies, such as Microsoft and Apple.<\/p>\n<p>The S&#038;P 500 closed up 2.8%.  The Dow Jones Industrial Average fell 809 points, or 2.4%, to 33,240, and the Nasdaq fell nearly 4%.  The high-tech Nasdaq has fallen 11% so far in April and is on its way to its worst calendar month since the 2008 financial crisis. It has also fallen 21% from its November record.<\/p>\n<p>\u201cIt\u2019s that the market is feeling a little more comfortable with a slowdown at best and fears of recession at worst,\u201d said Ross Mayfield, Baird\u2019s investment strategy analyst.<\/p>\n<p>The fall in major indices is still a mostly weak day on Monday which turned into a late rebound, led in part by technology stocks after Twitter <span >agreed to sell<\/span> to Tesla CEO Elon Musk.  The social media company fell 3.6% on Tuesday, while Tesla fell 11% due to concerns that Musk would be distracted and less committed to running the electric vehicle maker.<\/p>\n<figure >\n<div >\n<div ><\/div>\n<p>    <iframe data-src=\"https:\/\/www.cbsnews.com\/embed\/video\/?v=95b4b21348cd1dddd518b8f16a54c4e01651006794#vVcLbxu5Ef4rwgJRHzYl7lurg9DKrzbonWPECXKAFQhckivxvK9b7kpWHP33znBXL6dt0rumtmFySc5wON88ny3W1EWZso01Tliq5bkl5EpxaY1hoh9hzzq3VkrIwho%2FW6qWmbbGD89WvSnxzKoQsK8ETAMRC%2BpFDrEdLogXeAGJeSDJiAvqC5eFwg3gbFY%2BvZXJa6Rw3t%2Bw%2B9uf6c%2F3l1l9S%2Bvkg%2F3h8ml6c09Xbx%2B9%2BA5OF5VaqPxaqFoVOZA0GhZ12ixgvl6ymohCalIvJanXqq5lReJmUzQ1ySTLSV2QRssKaWpVpyjwByDq%2FdToxz%2Fo3ruWpNeS9JBE95Ki6u2IhHwEEpgkTZruOFynRb7jUFZFprTUvSLpJZWUPV1KyZc9OLFjzosmFb2Y8cdEVRJ4cZYXueIsffc%2FYlirTOqaZaU1tgOfRhH1PQo%2FIH9TsVZxduQcPn9ksUzhYuqObQcYpO13Do8ELDO2kBrB1ojRsq5LPZ4NZ0Me61yutTuAiYL7asUHvMhmw2UTz4ZqNqxmQ4c6zmxIPZgFs2EQjALXZ4zYgrrEs3lEonDkEMmSKKE8TEaOPxvWyyaLc6ZSIPDokxvQ2ZA5NAzsxAk5E5InYeLHseAy4o4bS9uhrTQkaTQ8h3y7IZD9ZSQaUduzSXfl4JdyAZpY%2FssnO9%2FxybYzok8hvkhEAXNCX8o4gVNelNgAZRJyKaSXRCL8Pm%2FenltlBR4v1%2B%2Br9OTxukwhDgxYli4GqgBMSnjwCt5qogE89yveOxt2jGfDQwg54g%2BmLgYQP8zOoFN1q97uA64CBS9T%2FVLL8BXaQehEUWCDOvFZbjQ3BzOmQRGDzG1Gu1ud%2F%2Fu1EEMyVsO1rEQlGqebDZ9IVsrF%2B7c%2FwonmhbLX6%2FWpLJ2Svx1mo2WlX2dlgaLswzlEcMVN7EbblkwKN3IpiWyfEs%2BxEzJyA0akDMIopDxyPX6IsCARQZHQM5SsWMWXkCcecL1n1j%2BC9bBK5vU7vOWWZRjPLi%2Fue7cvqC427ebDYRdoWZp27NprPoI1ylLpQsBRG8SQTJuwb6NMcpHBTe1GU4Jxab1%2FJXCacg4rF2nBH%2FexTL8H1dw3seaViqXYH9dlkeui2p1byqfplUxYkyJo9Bx%2BLbN6cVh1o3PPP%2Fcj2GAC9Zms2%2F%2FzVOWPJ2CGCQ3DwWqQrLMqG%2BSyBucRs%2BECvP0vXCsxeYYgC4Q43%2FaZztcT36Gubfc5w138v%2B0nKVtMXjkXLOMxDDLjFQw6rUszmMVfazNAwsYhiZnAvU3OYcgbQ8BkrfqZrKuJTR23f7gLHCHp5q%2Fc6d%2BKYpHKq%2Bnry%2Fvp6%2FmKwv6qyicPb6e3V29%2B%2BtgHbZeTVcZKG%2B8Da%2Ff6%2BkjwVXl0%2BIc5PC5XElSdz8EF5vCoO3pJL91wekUceukR7%2FomJNMbxycX1xeXF3ZwdTPyr%2FtQcgBSJfrLHFxkYnQK0r1ybuDvhZP0V4sG1WWGbV9%2FmjxjISOruVaf5La%2FBEf4CocSyxggw2HbN64yeTbDtt%2FWQZPndtz2gXeNjj1Zy7iPL1R6DksAphm3%2Feck03NwB5bp7Q%2BW8QyWmUyKQIOFHMOOZgT6s8atArEsaM8Y8DGGAPzwfYbwnyH4Zwj9GQJ%2FhrCfIehnCPkZAn6GcJ8h2FhjAdzgJ4D3uXV8B0IOPNvP8ReQo8wAOpzYIQkrCDwWegj9mQEeffFEdAT%2FlOhLA4D9bzIBU3WdGMF%2FipMY4hF9VFxrBijcJ%2Fw8NgV0ZjCGr3Aqu5q2MwdrHzutziSso%2BJ4ZxZI1xkGlqQy7l7fGoUBvTUPk2kPJ3fF9RaW6wqKOZUvjKkUmeYF1HU4h8zlUurTUQD24bWh9fYgMA9g6c8YwuAj13NdzxcoWxeyYYWVc4bQ3M6G0%2F0ZjmKtuG3vV4xqjnmjVIu25IdyM68rhSXhA4TsOAVZU4UUJpZu0XINVvq%2FqxZ3VF8vJAZMxPOnDB%2BZNU93VVHKqt78Q26whfBCKZgfuHYobN%2BLvMh2XJdBp7H9aPyAmUoWNFzLxQbnsLYsRJubZS7MU7t0Z3IuKVayAtshZVE2KavQDFq7APEhbWAKOrQT6Malgsk%2BYz8toXjgRZpK3qb9PVl35OUFkLhf2IDS1zmLU8xXJvOxCrSXymkDklfYOT1YLhWMi5iTgI2g2LSlQyJhO4RSe5TIEaM0pibDHpPuUnCHTe%2BPSyWEzHvxBlKY%2FNPRedOehSzA3k0SqEJ94slQkBGzYxL4UlAROAH3Rwfp7pr4CpSMmEDRRKhHnKDn0LFPx05wOLZrepqBHvR0Dcla92r2CI3OklVlr0ybfCF7bCmZwB4oY79AP1ZjCyRZlYOC9BGvHS55Deqdd6t7L%2B22D22s0ldyhQKa4LzYHUBdzLGzxdgB48tuE5b%2BrrCierAyAHKzZjVforJw576FGQ4f7bVbHXsMoGDnaiV7bXgwwcRo2BuJkT%2FinIT%2BSPw7FDuCrrg6uQULv%2B4WbCqxlVOZQmf2OhnemP5595ROQ%2FdFU5kgBoaAdT3sxBXLxV0XnoxsnZHMkcv8oMN993rH6qWx%2B7ZkbqGEUnUNJSnARXZwkUzxqtBFUpODYZhidc%2FqZefxRTH8m6%2BAstBUpvoFeOcdtMiRZKx6lLUBVIItCVZtDkSN%2FnLjtTBbSUiFHLkxiR2ZtOgxN6GEOpFtjzx7FEK1%2BLE1tQ693%2FGU%2Bd2BTaec8e9gtzPQq11COzXTz58%2FHzDHs3cVFC%2FV5m1byWBQ74TATYzMRolw52VaNOJNtTBGZNMr13Yc33f8mxs%2FjOjUi%2BiVd%2FXXqShiME7suV9mPKtLeVaX806T9LfnPAi97DTDHXPats86VWj31kvTfxwt1pKlqslQQiyhVHq03b1f5hhZsLlE1pkUit0V2gSSzkNlhh1Iaw7fz%2BJNivkq%2B9%2FSXW63%2FwQ%3D\" ><\/iframe><\/p><\/div><figcaption >\n<p>          <span ><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\"><use xlink:href=\"#icon-video\"><\/use><\/svg><\/span><\/p>\n<p>          <span >Elon Musk&#8217;s promises of free speech on Twitter could be counterproductive<\/span><\/p>\n<p>          <span >03:12<\/span><\/p>\n<\/figcaption><\/figure>\n<p>Technology stocks once again led the broader market and had some of the biggest losses.  Microsoft fell 3.2% and Apple 3.4%.  Microsoft will report on its latest financial results after the market closes on Tuesday, while Apple will report on Thursday.<\/p>\n<p>Bond yields fell.  The 10-year Treasury yield fell to 2.77% from 2.82% on Monday afternoon.<\/p>\n<p>Energy companies gained ground along with a 3% increase in the price of U.S. crude oil. <\/p>\n<h2>Too much for the &#8220;stomach market&#8221;<\/h2>\n<p>The last few days have been volatile, as Wall Street is also trying to assess how <span >Strict blockade measures by China<\/span> The fight against COVID-19 will affect the wider global economy, including its impact on the demand for the world&#8217;s second largest economy. <\/p>\n<p>\u201cThe market had become comfortable, to some extent, with the Fed, but when demand is destroyed in China, the market is a bit supportive,\u201d Mayfield said.<\/p>\n<p>The difficulties of the blockade have raised questions about the Chinese government&#8217;s adherence to its hard line <span >&#8220;zero-COVID&#8221; strategy.<\/span>, Lucy Craft of CBS News reported.  As Shanghai eases restrictions and increases COVID-19 cases in Beijing, China&#8217;s GDP is projected for a &#8220;zero-COVID recession,&#8221; according to Craig Botham, China&#8217;s chief economist at Pantheon Macroeconomics. <\/p>\n<p>&#8220;We expect a further slowdown in growth in the second quarter, equivalent to a recession, according to our GDP estimate,&#8221; Botham said in a monthly report. <\/p>\n<figure >\n<div >\n<div ><\/div>\n<p>    <iframe data-src=\"https:\/\/www.cbsnews.com\/embed\/video\/?v=95b4b21348cd1dddd518b8f16a54c4e01651006794#vVgLc9u4Ef4rHM5E01aGBL5J3Xha2Yqvnl4SN75c27EyGpAAJcR8HUFKdhz99%2B6C1MvJNfeYdOwxQGCxWOy3Tz%2BZrG3KKmOP5iRlmRJnJhdrmQhzAhN1D3vmmbmWXJTm5MmUjciVObl7MpvHCmnWJYd9yWGa2GHKWewRz2eUuDRNSBS6FhHcjdwgSjgPAqDNq4e3Ir3GE5lT%2FTy7%2FdfVf6bV97nP%2Fn2%2F%2FnjBflqky%2FKfNCquQ6Aua7mUxUsuG1kWcKRVsKiydgnznClFkhKEI1ZEGqEaWSyJLEgs5Aecshy2yraJa8Hu4VwjmwyFfgUHjcs3P13P4KDRHzRkYVx0Bw08aPQHR6ORiUq5h4MwSdss2%2FGZts0KBGykUEZTakaGTY1cZhlIa1QCFCuMtKwPlx1zvj%2B6EjgnrCgLmbDsx2%2FCvpE5MGB5ZU4s36NR4FIrpJTC29qadeq1g%2FDw%2BQOLRQZiUHfiIBRZ912AAgDxnC2FQpNQiOSqaSo1mY%2Fn4yRWhdgoZwQTCfc1MhklZT4fr9p4PpbzcT0f29S252Pqwsyfj2PXYSJwKEmCyCeuY3MSBkkKMz%2BwROo6cWjNx82qzeOCyWw%2B9l364Ph0PnbsMLEjL3RZaluBywNKrdSyEspcm%2FuJ6KQhaavgOeS3mQvZX0iiIHJ9i%2FTXjj5UqM7VF59tf8NnW3ZIHwIb3m17UZymbhj4lPMwca2YhnbqBWEcxSwI7G%2F37u2ZWdUQH8TmXZ2dKEBVGUSNEcuz5UiW8zGr4NFrEEXHjvn4a74%2BH%2FeM5%2BNDwDniX9UlH0G00TujXt2divsPuAqUvMrUc03DV0CdKLQsP4BPfJYXLTQh6KYR9Sh32nB3q%2F1%2FvxY8OGcNXMsqVKJ2vvn4geSVWL57%2BwNQtM%2BUvdlsTmXplfzboNaaluo6r0oUZ58AIObLREd7tPEgsimLPI9Y3AuJGwhOmOO5JABzZFEcWDSNDjEZpCIoFsnLuoAbQZxMVhi0V1LUrE5WkGjukMxAMmNHhvHv%2BZrRHX0PNsdqUTQ%2FolyvWY6x8fLi1niNxK8ODPY3XDx2VHdfJPtszbjc3cOyrJfu9BGddF982HtwCVFJVXK40AI9CKZ0prJQKWKZg%2BDdRluBhSu1VzNcNk0SWLnIyuR%2BH1jVOyXq2zZWSS1jwffkqioLVdY7upV4mM5EytoMLYeewY%2BpVy8Oq0505npnHsLDOAKabrq%2Fi0wW9ycWFaQ0CEbrUbrJ63xUiAY8mM%2FHSwg7f02U5OdPEPHhIM63A6aKzblnU8eyBgnDXfy7HaQZW56%2FsC9YnsQwiDypYVBZU%2BlBL%2F7c6AFqDBzSmHHceywSGIpWH2CikYNcNPW5RW1ncLgLvDHt5y%2Bc6fdluczEbHp9eTu9Xqwp7K%2Fr4vzu7fT17M2r9wPQdnW%2Bzlll4X3gcu5AHQm%2Bro6Iv1vA4wopQNXFAvxwAY%2B6oZf00gmmM2LTS5e4L68CMr2yPXLx8uLywvJnV6H3cgBVEiBVodMuwE%2FPtU5Buhf2Ffw%2B89TBetmiuvSwHaiP509Ye4l6oeRHsR2swBO%2FwqHCyguO4bAdaF89f9LDdtCVbudP3bgdAO8Go8v5RsQDfKFUC1gCMPW4HTyluVqAd7Fcbb8ztaOxXKd1BBos5Bh2NCPQnznpFIgVS0ejwcdABvDD9xDhHyL4Q4R%2BiMAPEfYhgj5EyIcI%2BBDhHiLYWBYC3OAngPeZeXwHQg48u8%2FJZ5CjzAA6UOyQhBUEHmtThH6ogUdfPBEdwT899LkBwP6vMgFdHp4Ywf8K1phnEH1UXGcGKNxH%2FDw2BXRmMIavcKr6Mrw3B3MfvM3eJMyjen5nFniuNwxYBdPoX98ZhQa9Mw%2Bd7g%2BUu35gC8tNzZJ7LCzRVMpcJWUt9BzSp0OpR0Mf7MPtIvXrg8CJD0t%2FwRAGH4VaqGaxRNnwTd0KqxYMoXk9H0%2F3NAmKtU4sa7%2BiVXPMG6Vadl1KUrZFU0usT%2B8gqscZyJpJPKFj6RYtV2OlvlTDWb9Yw%2B1Ofb2aGTEeLx5yfGTePtzUZSXq5vEfApKfaWMOZZ7vWAG3POiNIst2HOb45va99gOmy2rQcCOWjziHtVXJuwJBFFw%2Ftc%2B3OvGTci1qsB1SlVWbsRrNoLMLEB%2FSBqagQ%2FeDblxJmOzLhocVVDBJmWUi6WqP%2FbGe5PkFUDk8swGpXhYszjBf6czHatBeJroWBpu9O9OhnCU8TojPQkYsS9gk4pZNoGgPUxEySmOqk%2FDx0V0i77Ex%2FrSSnIvCiB8hhYk%2FH9HrjjJgfphwKkiUBh5xRQBFNbNi4nuCU%2B7bfuKFB%2Blu2ngGSkZMoHIj1CW2Dx3WxKMT2z%2BQ7fqxdqRGhmogWUM%2Fxu6FoVasrowqa4ulMNhKMOi9UiNnH6Ala0SyMgTb1w87XjtcigbUu%2BhX917abx86b6lmYo0C6uC83BGgLhbYjGPsgPF5gwxLf5dY0t2ZOQD5uGFNskJl4c5tBzN20Ie9bqtnjwEU7FyuhdGFBx1MtIbdkIdemCQk8EL%2BSyj2B%2Fpa7eSWFqqb%2Fhbsd7GvlLlEZ3Z7Gd7oln%2F3lF5Dt2Vb6yAGhoDNBezENSv4TR%2BetGy9kSyQy%2BKgw31jfcOalbb7rm7voCS83BQE4SI7uEguk7pUZdqQg2HoannP6nn781lF%2FruvgLJQF7rqGXhnPbTIEXq6%2Bl40GlABtsRZ%2FXg41KrPN6653koDykXoxCS2Rdqhx5yUEmpHlhW6VhhAtfi%2BM7UevT%2FwlMXNgU2vnMkfYLcz0NkuoZ2a6adPnw6YI%2B1NDcVL%2Ffi2q2QwqPdC4CZGZq1EuPMyK1v%2Bpl5qI7LozLFs2%2FNs7%2BrKCyI6dSM6c2d%2Fm%2FIyBuPU%2F6p5lvHMPuWZfc47TdK%2FPudB6GWnGe6Y07Z71qlC%2B7de6v7jaLERLJNtjhJiCSWzo%2B3%2B%2FaLAyIIdLrLOBZfsplQ6kPQeKnLsQDpz%2BHYWr1PMV9n%2F3hZ3u%2F0v\" ><\/iframe><\/p><\/div><figcaption >\n<p>          <span ><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\"><use xlink:href=\"#icon-video\"><\/use><\/svg><\/span><\/p>\n<p>          <span >Authorities to test 20 million people for COVID-19 amid an outbreak in Beijing<\/span><\/p>\n<p>          <span >04:38<\/span><\/p>\n<\/figcaption><\/figure>\n<p>Earnings remain a key focus of Wall Street for the rest of the week.  Investors are closely reviewing the latest round of corporate newsletters to get a better idea of \u200b\u200bhow different industries are managing rising inflation, which has caused many companies to raise prices.  The results will also give a clearer picture of how consumers react to the highest prices of all <span >gasoline food.<\/span><\/p>\n<p>The persistent rise in inflation has led the Fed to change its monetary policy to aggressively fight inflation.  Federal Reserve Chairman Jerome Powell told the central bank <span >may raise short-term interest rates to double the usual rate<\/span> pace at the next meetings, from two weeks.  The Fed has already raised its interest rate to one day once, the first such increase since 2018.<\/p>\n<p>Economists and investors are worried that the U.S. economy may slow sharply or even fall into recession due to large interest rate hikes expected to boost the Fed.<\/p>\n<p>  <!-- data-recirc-source=\"\" --><\/p>\n<style type=\"text\/css\">\n<p>    .component - recirculation-type .item: nth-child (5) {display: none;  } # recirc-item - id-7a68cd0e-9f75-4e7d-8a1b-65ed0d626c58 {display: none;  } # recirc-item - id-7a68cd0e-9f75-4e7d-8a1b-65ed0d626c58 ~ .item: nth-child (5) {display: block;  }\n  <\/style>\n<p><!-- tags --><\/p>\n<ul >In:<\/p>\n<li>Stock Market<\/li>\n<\/ul>\n<div ><\/div>\n<\/section>\n<p><a href=\"https:\/\/www.cbsnews.com\/news\/stocks-down-tech-earnings-microsoft-2022-04-26\/\">Source <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares fell on Tuesday afternoon as markets remain turbulent amid an intense week of gains by some of the country\u2019s largest companies, such as Microsoft and Apple. The S&#038;P 500 closed up 2.8%. The Dow Jones Industrial Average fell 809 points, or 2.4%, to 33,240, and the Nasdaq fell nearly 4%. The high-tech Nasdaq has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[53],"tags":[],"class_list":["post-24580","post","type-post","status-publish","format-standard","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v18.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stocks take sharp plunge ahead of major tech earnings - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/04\/26\/u-s-stocks-take-sharp-plunge-ahead-of-major-tech-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. stocks take sharp plunge ahead of major tech earnings\" \/>\n<meta property=\"og:description\" content=\"Shares fell on Tuesday afternoon as markets remain turbulent amid an intense week of gains by some of the country\u2019s largest companies, such as Microsoft and Apple. The S&#038;P 500 closed up 2.8%. The Dow Jones Industrial Average fell 809 points, or 2.4%, to 33,240, and the Nasdaq fell nearly 4%. 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