Nasdaq leading losses at close, inflation in focus

Tuesday, 09. August 2022 22:01

Major US markets closed lower Tuesday as investors weighed disappointing corporate news ahead of tomorrow's inflation data. Earlier, memory chip maker Micron cautioned that revenue could be lower than its previous forecast due to "macroeconomic factors and supply chain constraints."

During the day, market participants received updates from Microsoft, Walmart and Ford. AppLovin offered to buy Unity Software for $17.5 billion, and Nvidia CEO assured the company is not planning layoffs after a disappointing preliminary financial report. Finally, Biden signed into law the CHIPS and Science Act and the ratification papers for the accession protocols to the North Atlantic Treaty Organization (NATO) for Sweden and Finland.

The Dow Jones lost 0.18% at the close, with Salesforce sinking 3.95%. The Nasdaq 100 fell 152 points or 1.19%, while Zoom Video decreased by 8.24%. The S&P 500 declined 0.42%, as Norwegian Cruise Line dropped by 10.86%.

The euro improved by 0.11% against the dollar at 3:58 pm ET, selling for $1.02085.

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Author:
Baha Breaking News (BBN) / JG